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Procter & Gamble Terminates Warner-Lambert, American Home Talks

 

Updated from 12:39 p.m. EST

Procter & Gamble (PG Quote) said Monday it had canceled merger talks with Warner-Lambert (WLA Quote) and American Home Products (AHP Quote), saying leaks and speculation had tainted the environment for moving forward with the deal.

Rumors and speculation over a possible takeover of the drug makers by P&G have circulated for about a week, and have hurt shares of P&G as investors questioned a foray into the sometimes risky and always cut-throat drug trade. ...

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