P&G may make 38 bn pounds bid for Unilever
Posted on: 11:07 AM IST Jun 02, 2011
London: In what could be one of the biggest deals in the global FMCG sector, consumer goods giant Procter & Gamble is rumoured to be lining up a 38 billion pounds bid for its biggest rival Unilever.
Wild rumours are doing the rounds that Procter & Gamble (P&G) could make a mega offer for Unilever, according to British publication Daily Mail.
There are "wild rumours from across the pond that Procter & Gamble could be lining up a mega 38 billion pounds or 30 pounds a share break-up bid for one of its biggest rivals (Unilever)," the report said.
"As sceptics quickly said that anti-trust authorities would not take kindly to such a deal, they heard whispers that P&G has apparently already lined up buyers for parts of Unilever it does not want or would have to sell to placate competition authorities," it noted.
Both P&G and Unilever have significant presence in the fast-growing Indian FMCG market.
The publication said that P&G's last major corporate deal was the 1.4 billion pounds sale of its Pringles crisps business to Diamond Foods.
"Unilever s last big purchase was the 2.3 billion pounds acquisition of Alberto Culver, the company behind the likes of VO5, Tresemme and Simple," the report added.