Clairol/Pharma Business Exchange Sought By Bristol-Myers
This article was originally published in The Rose Sheet
Executive Summary
Bristol-Myers Squibb's pending sale of the Clairol hair care brand is likely to involve an assets swap of part or all of a large company's pharmaceutical business, BMS Chairman and CEO Charles Heimbold suggested during an analyst meeting in New York City Sept. 28.
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BMS
As President and CEO Peter Dolan takes helm May 1, one of his initial charges will be divesting Clairol as part of strategy to fund biologic products acquisitions. Bristol-Myers Squibb is rumored to have received bids from Procter & Gamble and Kao (1see story, p. 6). Exec also is expected to focus on building Bristol's international business, particularly in Europe and Japan. Dolan, who was appointed president and member of the board in January 2000, succeeds retired Chairman Charles Heimbold. Acquisition growth strategy and Clairol divestiture were announced by Bristol in September (2"The Rose Sheet" Oct. 2, 2000, p. 3)
P&G, Kao Square Off In Bid For Bristol's Clairol
Bidding to purchase Bristol-Myers Squibb's Clairol hair care division is rumored to have narrowed to Procter & Gamble and Kao Corporation in a transaction valued at $4 bil.-$5 bil, Merrill Lynch analyst Heather Murren says in a May 4 report.
BMS
As President and CEO Peter Dolan takes helm May 1, one of his initial charges will be divesting Clairol as part of strategy to fund biologic products acquisitions. Bristol-Myers Squibb is rumored to have received bids from Procter & Gamble and Kao (1see story, p. 6). Exec also is expected to focus on building Bristol's international business, particularly in Europe and Japan. Dolan, who was appointed president and member of the board in January 2000, succeeds retired Chairman Charles Heimbold. Acquisition growth strategy and Clairol divestiture were announced by Bristol in September (2"The Rose Sheet" Oct. 2, 2000, p. 3)