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Alberto-Culver to Spin Off Sally Beauty

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By: TOM BRANNA

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Personal care and consumer products company Alberto-Culver Co. said it would spin off its beauty supplies distribution business as an independent public company in a deal worth around $3 billion. As part of the deal, private equity firm Clayton, Dubilier & Rice will invest $575 million in the unit, Sally Beauty Co., for a 47.5% stake. Alberto-Culver said its shareholders will get a $25 per share one-time cash dividend, as well as one Sally Beauty Co. share, for each Alberto-Culver share ...

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