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Shareholders of Alberto-Culver Co., the maker of beauty products such as VO5 and Noxzema, have approved the company’s $3.7 billion takeover by consumer products maker Unilever NV, the companies said on Friday.
The company also said it and Unilever have received a second request for information from the Department of Justice, which is reviewing the deal. Get the full story »
Johnson & Johnson issued a recall of its Softchews Rolaids antacids Thursday after wood and metal bits were discovered in the tablets.
J&J, which recalled some Rolaids products in November, said it was voluntarily recalling all lots of the Softchews products after potentially uncovering problems with a third-party manufacturer.
The recall is the latest in a string of pulled products for J&J’s consumers unit that has drawn attention from U.S. authorities and Congress, hurt sales for its consumer products parent company and tarnished J&J’s reputation. Get the full story »
Management consulting firm Accenture PLC said Friday it has agreed to acquire a German maker of software that helps consumer products companies manage customer relations and trade promotions. Get the full story »
Some of Fortune Brands' products. (Candice C. Cusic/Chicago Tribune)
Fortune Brands touted the “value proposition” of remaining a diversified company Thursday but said it’s open to meeting with all its investors, including hedge fund manager William Ackman’s Pershing Square Capital Management, which has taken a 10.9 percent stake in the company.
“We’re open to constructive discussion with all our shareholders and that includes Pershing Square,” Chief Executive Bruce Carbonari said. “Our board is very engaged and very involved and along, along with management, at looking at how our business is structured.”
Added Craig Omtvedt, chief financial officer, “We’re pretty relaxed. We look forward to having a dialogue with Ackman and his team as much as we do anybody else.” Get the full story »
Bloomberg News | L’Oreal SA and Henkel AG could be interested in Alberto Culver Co., which Unilever yesterday agreed to buy for $3.7 billion, JPMorgan Chase & Co. analysts said.
Alberto Culver shares rose 20 percent to $37.64 yesterday after the deal was announced, above the $37.50 a share Unilever agreed to pay for the maker of VO5 and TRESemme hair-care products. Unilever said there is a $125 million breakup fee if the deal is terminated. Get the full story »
