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Wella dispute

This article was originally published in The Rose Sheet

Executive Summary

Wella minority shareholders propose adding a resolution to Wella's May 13 annual general meeting agenda that requests appointment of a special representative to seek damages from Procter & Gamble. Minority group claims P&G violated German takeover law by not signing a domination agreement with Wella before completing a worldwide licensing agreement for Wella consumer products. Shareholders additionally are seeking a resolution barring P&G from voting at the meeting. Resolution request is the latest effort by the group to thwart the integration of Wella into P&G. They previously filed a lawsuit in Darmstadt, Germany to block the licensing agreement (1"The Rose Sheet" March 8, 2004, In Brief)...
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