P&G/Gillette Integration On Track, But Shareholder Meetings Postponed
This article was originally published in The Tan Sheet
Preparations for Procter & Gamble's integration of Gillette are proceeding as scheduled, according to a May 24 filing with the SEC
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Procter & Gamble will focus on growing Gillette's brand equity and product offerings in the midterm, P&G CFO Clayt Daley told analysts during an Oct. 3 conference call. P&G's $57 bil. acquisition of Gillette closed Oct. 1, one day after receiving FTC approval
The European Commission should investigate Procter & Gamble's proposed merger with Gillette for potential anti-competitive concerns, the UK consumer advocate group Which maintains
P&G expects the dilutive impact of its Gillette acquisition to reduce EPS by $.25 - $.35 in the first year after closing and $.05 -$.10 in the second year, with positive EPS growth of $.01 - $.05 in the third year, the firm says in a June 20 SEC filing. P&G's near-term strategy "must focus on the successful integration of the Gillette business and delivery of growth and cost synergies," the filing states; the firms are rumored to be mulling the divestment of certain brands to appease regulators, including products in the oral care division. P&G and Gillette recently postponed shareholder votes on the merger to July 12 and 13, respectively (1"The Tan Sheet" May 30, 2005, p. 7)...