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P&G Bows to Wella Shareholder Rebels with $119 Million Offer

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By: TOM BRANNA

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Procter & Gamble Co. bowed to the demands of rebel Wella investors on Monday, offering an extra 100 million euros ($119 million) to buy them out and finally take full control of the German hair care group. P&G, which holds most of Wella’s ordinary voting stock and about 80% of total share capital after last year’s 5.6- billion-euro takeover offer, said it had entered a domination and profit transfer agreement with Wella’s supervisory board.Under the terms of the deal,...

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