FTC approves Nestle bid for Ralston

WASHINGTON, Dec. 11 (UPI) -- Federal regulators on Tuesday approved Nestle Holdings Inc. $10.3 billion purchase of Ralston Purina Co., which would create the world's largest pet food company, after the two firm' agreed to divest two cat food brands to preserve competition. The U.S. Federal Trade Commission voted 4-0 to let the merger proceed, with the two companies promising to sell Meow Mix and Alley Cat dry cat food brands by Jan. 31 to J.W, Childs Equity Partners LP.