Henkel’s $2.9 Bil. Dial Acquisition To Bolster U.S. Presence
This article was originally published in The Rose Sheet
Executive Summary
Henkel's acquisition of Dial will strengthen the German firm's North American business by bolstering its personal care portfolio with the addition of the Dial, Coast and Tone soap brands, the company said, announcing the planned acquisition Dec. 15
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Dial takeover
Shareholders of record as of the close of business Feb. 24 will vote on Henkel's proposed acquisition of Dial during March 24 special meeting at firm's Scottsdale, Ariz. headquarters, Dial reports. Henkel announced plans to acquire the personal care company for $2.9 bil. in cash in December; under the proposed agreement, Dial shareholders would receive $28.75 per share. The acquisition, expected to close in April, also is subject to regulatory approval (1"The Rose Sheet" Dec. 22, 2003, p. 3)...
Dial takeover
Shareholders of record as of the close of business Feb. 24 will vote on Henkel's proposed acquisition of Dial during March 24 special meeting at firm's Scottsdale, Ariz. headquarters, Dial reports. Henkel announced plans to acquire the personal care company for $2.9 bil. in cash in December; under the proposed agreement, Dial shareholders would receive $28.75 per share. The acquisition, expected to close in April, also is subject to regulatory approval (1"The Rose Sheet" Dec. 22, 2003, p. 3)...
Sales & Earnings In Brief
P&G Q2: Beauty care net sales jumped 50% in the second quarter to $4.5 bil., boosted by Pantene, Head & Shoulders, Herbal Essences and Olay, firm reports Jan. 28. Net earnings rose 34% to $681 mil. on top line growth, including Wella. P&G will continue to support core brands such as Pantene, and will seek to improve its colorants business, which includes Clairol Herbal Essences highlighting kits and Nice 'N Easy permanent hair color, by creating better shopping and at-home coloring experiences for customers, CEO A.G. Lafley states. In health care, Crest Whitestrips and Night Effects led 22% net sales growth to $1.9 bil. Net earnings rose 32% to $333 mil. following "strong volume and margin expansion due to lower manufacturing costs and product mix," P&G notes. Overall net sales were up 20% to $13.2 bil., and net earnings improved 22% to $1.8 bil. Separately, Procter & Gamble International Operations announced a worldwide agreement to license Wella retail hair care products Jan. 29. "This is the first major agreement in the collaboration efforts between P&G and Wella and capitalizes on P&G's unique strengths in the consumer retail business," the companies note. P&G acquired Wella last year for $5 bil...