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May 8, 2003
By: TOM BRANNA
Editor
Wella management gave lukewarm support for a “reasonable” takeover offer from Procter & Gamble on Friday, declining to recommend it to investors but saying board members would accept the bid for their own shares, according to a Reuters report.“The members of the management board intend to accept the tender offer with regard to…shares held by them,” the company said in its first reaction to P&G’s formal offer.Procter & Gamble, which secured contr...
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