Pharma Business Week
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Mergers & Acquisitions
European Commission clears Gillette merger
August 15th, 2005
The Procter & Gamble Co. (PG) (P&G) learned recently that the European Commission has cleared the proposed merger with the Gillette Co. The announcement from the European Commission is "excellent news," said A.G. Lafley, P&G chairman, president, and chief executive. "The EU clearance is a significant milestone as we work to combine two of the world's leading companies to benefit consumers, customers, and shareholders." The announcement follows an overwhelming vote by the shareholders of both companies in support of the merger. As part of the regulatory review process, P&G announced that it plans to divest its SpinBrush battery toothbrush business,...
Source: Pharma Business Week (2005-08-15)
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