Secretary of the Commonwealth of Massachusetts William F. Galvin made public a report from University of Virginia assistant professor Rajesh K. Aggarwal that criticizes the Gillette Co. and Procter & Gamble Co. for undervaluing their proposed merger by billions of dollars. Aggarwal’s report, which was released in June, claims that errors in the companies’ merger value calculations “benefit Procter & Gamble shareholders at the expense of Gillette shareholders” and that the public stat...