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Close Brothers Will not Tender Wella Preference Shares for P&G

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By: TOM BRANNA

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Close Brothers Corporate Finance Ltd., London, is working with a group of Wella preference shareholders that collectively owns or controls approximately 8.31 million Wella preference shares equivalent to 35.5% of the Wella preference shares.This group of Wella preference shareholders stated that the terms of the tender offer being made by P&G for the Wella preference shares do not offer adequate consideration to the Wella preference shareholders.In light of P&G’s refusal to impro...

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