procter & gamble co/the (PG) Key Developments
The Fresno County District Attorney's Office Gets Settlements from Proctor & Gamble
Jun 26 15
The Fresno County District Attorney's Office announced settlements in separate consumer protection cases against a prominent national retailer and retail supplier. Deputy District Attorney Ed Browne said that his office's Consumer Protection Unit worked with Shasta, Riverside and Yolo counties on a consumer protection case against The Proctor & Gamble Company. This action claimed that Proctor & Gamble engaged in 'slack fill' packaging in its health and beauty products. Slack fill is the empty space in a container that is meant to mislead consumers about the product's contents. The lawsuit was the result of a four-year investigation by the counties. Without admitting any wrongdoing, Proctor & Gamble agreed to change its packaging and pay $850,000 in civil penalties and costs. Brown said his office received $194,000 of this settlement.
COTY In Talks to Buy Proctor & Gamble's (P&G) Beauty Assets Through a Reverse Morris Trust
Jun 17 15
Coty Inc. (NYSE:COTY) won an auction at the weekend valuing The Procter & Gamble Company (NYSE:PG)’s businesses at close to $12 billion, the sources said. If it goes through, it would be the biggest deal in cosmetics in at least a decade and would turn Coty into a world leader in perfume and hair care. For tax purposes, the transaction is to be completed through a Reverse Morris Trust, which means that P&G would spin off its beauty assets into a separate company that would then absorb Coty in an all-share deal, the sources said. In turn, the newly combined company would then redistribute shares to P&G shareholders.
Coty Reportedly Mulls Acquisition Of Three Businesses From Procter & Gamble
Jun 16 15
Coty Inc. (NYSE:COTY) is reportedly seeking acquisition three businesses from The Procter & Gamble Company (NYSE:PG). “Coty has won auctions to acquire three businesses from Procter & Gamble Co for as much as $12 billion,” a source familiar with the matter told Reuters. Coty reportedly was the highest bidder CoverGirl and Max Factor cosmetics and Wella hair care line. According to New York Post, Coty is considering buying the P&G brands through a Reverse Morris Trust. The source cautioned that the deal had not yet been finalized. Coty refused to comment when contacted by Reuters. P&G was not immediately available for comment. P&G stock rose 1.5% by mid-afternoon, while Coty was up 18%.
Procter & Gamble To Sell 100 Brands Worldwide
Jun 16 15
The Procter & Gamble Company (NYSE:PG) is looking to sell 100 brands worldwide. The company is undergoing fundamental change. The trick will be to find a buyer for the company's low-margin brands.
Coty Inc. Reportedly Wins Auction To Acquire Max Factor, CoverGirl & Wella
Jun 15 15
Coty Inc. (NYSE:COTY) has won the auction to purchase Max Factor & Co. and CoverGirl from The Procter & Gamble Company (NYSE:PG), the New York Post has learned. Coty also wont a third auction to acquire Wella GmbH. The value of the three deals could reach $12 billion, sources added. P&G and Coty both declined to comment.