P&G merger
This article was originally published in The Tan Sheet
Executive Summary
Procter & Gamble will sell its SpinBrush power toothbrush division to Church & Dwight as part of the regulatory approval process with the European Commission in the firm's $57 bil. merger with Gillette, P&G announced Sept. 14. The sale will cost Church & Dwight $75 mil. in cash at closing, plus an inventory settlement amount, and up to $30 mil. in cash based on near-term performance, the firm says. The sale, required by European regulators due to brand overlaps with Gillette's Oral-B line, is subject to approval by U.S. and European authorities and is expected to close in the fourth quarter 2005 ("1The Tan Sheet" July 18, 2005, In Brief). P&G is in "ongoing discussions with the FTC and expects this divestiture will move the Gillette merger one step closer to completion of the FTC clearance process," the firm reports...
You may also be interested in...
Gillette minus Rembrandt
Procter & Gamble is granted conditional approval of its proposed acquisition of Gillette by FTC, "provided the companies divest a variety of overlapping assets," including the Rembrandt at-home teeth whitening business, the commission announces Sept. 30. FTC also calls on P&G to sell Right Guard men's antiperspirant and deodorant business to avoid suppressing competition in those market sectors. P&G said in September it would sell the Crest SpinBrush business under a requirement by the European Commission (1"The Tan Sheet" Sept. 19, 2005, In Brief)...
P&G/Gillette
Merger is approved by the European Commission July 15, with the condition that P&G sell its battery-operated toothbrush business. Deal is slated to close this fall pending U.S. approval. Shareholders of both firms approved the merger in separate July 12 meetings. During the P&G meeting, CEO A.G. Lafley defended Gillette CEO Jim Kilts' planned compensation package and stated that Kilts will join the same bonus programs as other execs and receive a salary and options that are "the continuation of what he's receiving today at Gillette." Kilts' compensation has been scrutinized since the deal's January announcement, and is under investigation by the Massachusetts Secretary of the Commonwealth...
At-Home Health Testing Demand Is High Post-Pandemic, But So Are Barriers To Development And Use
At the recent Precision Med-Tri Con conference, laboratory experts traded views on the expansion of at-home testing for disease diagnosis and personalized health insights. While strong consumer demand spells opportunity, there are significant concerns about the accuracy and reliability of home-testing platforms, misuse, accessibility, and lack of health literacy.