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P&G Tender Offer Increase Adds $86 Mil. To Wella Price Tag

This article was originally published in The Rose Sheet

Executive Summary

Procter & Gamble increased its offer for Wella preference shares $3.86 (€1=$1.10) to $71.76 per share in a tender offer launched April 28

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Wella Integration To Proceed Regardless Of Offer Outcome, P&G Says

Procter & Gamble remains confident it will acquire outstanding shares of Wella during an additional two-week acceptance period beginning June 6, the company stated May 29, the day after its initial tender offer for the German hair care company closed

Wella Integration To Proceed Regardless Of Offer Outcome, P&G Says

Procter & Gamble remains confident it will acquire outstanding shares of Wella during an additional two-week acceptance period beginning June 6, the company stated May 29, the day after its initial tender offer for the German hair care company closed

Wella responds to P&G offer

Procter & Gamble's tender offer for Wella shares is "fair based on all relevant circumstances," Wella's executive board says in May 9 statement. However, the board did not recommend whether shareholders should accept or decline the offer. P&G tendered an offer to buy Wella ordinary shares for $105.7 (€1=$1.15) and preference shares for $74.4 in April (1"The Rose Sheet" May 5, 2003, p. 5). P&G has offered Wella CEO Heiner Gürtler responsibility for the cosmetics and fragrances business Cosmopolitan Cosmetics, the global responsibility for the professional hair care division within P&G and membership in P&G's Global Leadership Council, Wella adds...

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