Finance In Brief
This article was originally published in The Rose Sheet
Executive Summary
P&G tender offer results: Procter & Gamble owns 79.17% of the total registered share capital and about 84.9% of the value of the outstanding shares of Wella following the close of the second and final tender offer period, the company announces June 26. Ownership includes controlling interest secured through P&G's purchase agreement with majority owners. Approximately 9 mil. voting shares and 10.2 mil. preference shares were tendered, representing 20.5% and 43.5%, respectively, of each class of share, the firm says. Under German takeover law, P&G needed to acquire 95% acceptance in order to squeeze out remaining shareholders. The company says it will move ahead with plans to integrate the German hair care manufacturer following regulatory approval. Henkel, which had acquired 6.86% share capital in Wella prior to P&G's acquisition, tendered its stake...
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Wella buy gets green light: Federal Trade Commission grants regulatory approval to Procter & Gamble to proceed with its planned acquisition of German beauty firm Wella. P&G continues to pursue necessary regulatory and governmental approvals in other major markets including the EU, firm notes. P&G owns 79.17% of total registered share capital and about 84.9% of the value of outstanding shares of Wella following the close of the second and final tender period in June (1"The Rose Sheet" June 30, 2003, Finance In Brief)...
Regulatory In Brief
Wella buy gets green light: Federal Trade Commission grants regulatory approval to Procter & Gamble to proceed with its planned acquisition of German beauty firm Wella. P&G continues to pursue necessary regulatory and governmental approvals in other major markets including the EU, firm notes. P&G owns 79.17% of total registered share capital and about 84.9% of the value of outstanding shares of Wella following the close of the second and final tender period in June (1"The Rose Sheet" June 30, 2003, Finance In Brief)...
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