Unilever to Purchase Alberto Culver for $3.7 Billion

Unilever, the maker of Dove soap, agreed to buy Alberto Culver Co. for $3.7 billion in cash to add VO5, Nexxus and TRESemme hair-care products in the company’s biggest purchase in a decade.

Unilever will pay $37.50 a share, Alberto Culver, based in Melrose Park, Illinois, said today. That’s about 19 percent more than the Sept. 24 closing price. The purchase will add to earnings per share in its first year, Unilever said separately. The companies agreed to a $125 million breakup fee if the deal is terminated, said Paul Matthews, a spokesman for Unilever.