Report: Procter & Gamble Near Deal to Buy Gillette
Procter & Gamble(PG) is nearing a deal to purchase Gilette(G) in a stock swap valued at about $55 billion, according to The Wall Street Journal, which cites people familiar with the matter.
Under the terms of the deal, P&G is offering 0.975 P&G share for each share of Gillette outstanding. That would value Gillette shares at $53.94, based on P&G's Thursday closing price of $55.32, the Journal said. The offer represents a 17.6% premium to Gillette's closing price of $45.85. The Journal noted that P&G stock has risen 32% during the past two years, giving the company strong currency to engineer a major acquisition. Neither company provided comment on the matter, the Journal reported. Ironically, hair and skincare product maker Alberto-Culver(ACV) denied rumors on Thursday that it was in merger talks with P&G, according to Reuters, which cited the speculation, prompting an 8% jump in Alberto shares. Earlier Thursday, P&G said its second-quarter earnings jumped 12%, beating analysts' per share estimates.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
Jim Cramer's Action Alerts PLUS:
Trade right alongside a Wall Street pro — enjoy access to his Charitable Trust portfolio and be sent trade alerts BEFORE he makes a move. Learn More
ETF Profits:
Get money-making ideas from the hottest investment vehicle on the planet. Our experts show you how to play various ETF sectors to help pump-up your portfolio. Learn More
OptionsProfits:
Get 50+ trade ideas a week from the industry's top options experts. Plus — exclusive commentary on market trends and essential trading tools. Learn More
Real Money:
Our team of professional Wall Street Pros — including Jim Cramer, Doug Kass, and Nicholas Vardy — delivers intelligent analysis, timely trade ideas, and colorful commentary. Learn More
Stocks Under $10:
Break into the market with small- and mid-cap stocks... all $10 or less! David Peltier tells you exactly which low-priced stocks he's buying and selling. Learn MoreTo begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
blog comments powered by Disqus
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 12,890.46 | 1,351.95 | 2,927.23 | 20.47 |
Oil *
118.70
|
|
UP
6.51 |
UP
1.99 |
UP
11.37 |
UP
0.72 |
10 Yr
2.05%
SPDR Gold
168.02
|
|
+0.05%
|
+0.15%
|
+0.39%
|
+3.65%
|
Data delayed 20 minutes |
Connect with TheStreet