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$12.5 billion dollar exchange starts with exchange offer.
September 1, 2016
By: Melissa Meisel
The Procter & Gamble Company commenced an exchange offer for the separation of its global fine fragrances, salon professional, cosmetics and retail hair color businesses, along with select hair styling brands—collectively referred to as P&G Specialty Beauty Brands. This represents the next step in the proposed tax-efficient Reverse Morris Trust transaction with Coty Inc. revealed in 2015. In the proposed split-off transaction, P&G will transfer the assets and liabilities of P&...
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