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June 11, 2004
By: TOM BRANNA
Editor
The Procter & Gamble Co., Cincinnati, officially bought German beauty and hair care company Wella from majority shareholders on Friday. The 77.6% stake cost 3.2 billion euros.Procter & Gamble intends to make a tender offer for the remaining shares of Wella, and will offer 92.25 euros per share in cash for voting shares, and 61.50 euros per share in cash for preferred stock, valuing total shares at 5.4 billion euros.Wella’s preferred shareholders may receive the option of acceptin...
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