Market News
29Jul2005 |
Gillette, P&G to MergeIt was a close shave for a bit, but shareholders of Gillette Co. have overwhelmingly approved the company's US$57-billion acquisition by Procter & Gamble. With the two firms' merger, they become the world's largest maker of consumer products. Gillette chief executive, James Kilts, has said the combined company will "grow and prosper." The deal is the largest in the history of 167-year-old P&G. Its range of flagship brands includes Crest, Tide and Head & Shoulders. Among other products, Boston-based Gillette makes razors, electric shavers, Oral-B toothbrushes and Duracell batteries. Source: Canadian Grocer E-Newsletter, July 29, 2005. 
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