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09-27-2010, 03:18 PM #1
Unilever to Buy Alberto Culver for $3.7 BILLION
Unilever to Buy U.S. Beauty Products Company
By CHRIS V. NICHOLSON
Published: September 27, 2010
PARIS — Unilever, the Anglo-Dutch consumer goods company, said Monday that it had agreed to buy the U.S. beauty care company Alberto Culver for $3.7 billion.
Unilever, which makes Dove soap, Pond’s skin cream and Vaseline, said that Alberto Culver’s array of brands — TRESemmé, Nexxus, VO5, St Ives and Simple, to name a few — would enhance its hair and skin care businesses.
The company will pay $37.50 in cash per share of Alberto Culver, which is based outside Chicago. That is 19 percent more than the stock’s price of $31.48 at the close on Friday, and a third more than its average share price for the last year.
The deal is the biggest for Unilever since last year, when it said it would acquire a line of body care products from Sara Lee, as well as its European detergent business, for $1.88 billion. That transaction has yet to be approved by the European Union regulators.
Ten years ago the personal care business “represented 20 percent of our turnover,â€NO AMNESTY
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