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March 4, 2003
By: TOM BRANNA
Editor
Procter & Gamble, Cincinnati, OH, has made a takeover approach to the family that controls Wella, the German hair care group. The Stroeher family is not actively seeking a buyer for its 80% stake, and is understood to have dismissed P&G’s recent offer as too low. The family last autumn rejected an offer from Henkel that would have valued the company at $5.7 billion.P&G’s offer was not made public, and the talks are not considered ongoing. The family, which is split int...
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