Gillette lawsuit
This article was originally published in The Tan Sheet
Executive Summary
Gillette's proposed merger with Procter & Gamble is "unduly favorable" to P&G, company shareholders maintain in a putative class action lawsuit filed in Delaware state court Feb. 10. The suit alleges breaches of fiduciary duties by Gillette's board of directors and senior management regarding the proposed merger, and claims P&G senior management will receive "excessive compensation" as a result of the deal. The plaintiffs seek injunctive relief halting consummation of the merger or rescission following its consummation, as well as compensatory damages. A similar suit was filed in Delaware state court the following day, and a motion to consolidate the two is pending. P&G and Gillette said they find the allegations to be without merit. Massachusetts state regulators are investigating the deal based on Gillette CEO James Kilts' substantial compensation package (1"The Tan Sheet" Feb. 7, 2005, p. 9)...
You may also be interested in...
State Regulators Understood To Be Eyeing Gillette CEO Package In P&G Deal
The compensation package for Gillette CEO James Kilts outlined under terms of the merger with Procter & Gamble reportedly has drawn the attention of regulatory investigators
US Q1 Consumer Health Earnings Preview: Label This One Historic And Challenging But Promising
US OTC drug and supplement firms’ reports of results for the first three months of 2024 began on April 19 with P&G. JP Morgan analysts say while “some retailers in the US in particular” are reducing consumer health inventories, for the overall sector they expect “a healthier balance of positive volume and lower pricing contribution.”
Keeping Track: Cancer Approvals From Lumisight Imaging To Adjuvant Alecensa
The US FDA’s approval of Lumicell’s optical imaging agent Lumisight makes a dozen novel approvals in 2024 for the Center for Drug Evaluation and Research.