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Henkel, Coty Bid For Parts Of Procter & Gamble's Beauty And Personal Care Business

June 8, 2015: 12:00 AM EST
Henkel & Co KGaA AG and Coty Inc. submitted binding offers to buy different beauty brands that Procter & Gamble Co. plans to sell as part of CEO A.G. Lafley's cost-cutting strategy. Henkel offered to acquire P&G's haircare business, which includes the brands Wella and Clairol and could be valued between $5 billion and $7 billion. Henkel will compete with private equity firm KKR & Co LP, which also submitted a bid. Coty submitted bids for P&G's fragrance and cosmetics businesses.
Astrid Wendlandt, Olivia Oran and Greg Roumeliotis, "Exclusive: Henkel, Coty submit binding bids for P&G assets: sources", Reuters, June 08, 2015, © Thomson Reuters
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