Company News

P&G Hasn’t Formally Bid for Beiersdorf Stake

Author Image

By: TOM BRANNA

Editor

Germany’s Federal Financial Supervisory Agency, BaFIN based in Frankfurt, said U.S. firm Procter & Gamble Co. hasn’t made a formal offer for Beiersdorf AG . Beiersdorf’s stock price shot up 19% on Wednesday, Dec. 11 on news that P&G wanted to take a 44% stake in the consumer goods company which owns the Nivea brand.German magazine Focus-Money reported late Tuesday that P&G was offering $5.54 billion for a 44% stake in Beiersdorf presently owned by insurer Allianz...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters