The European Union will examine Procter & Gamble Co.’s bid to buy Sara Lee Corp.’s European air freshener business, Reuters reported Wednesday. Regulators from the United Kingdom, Belgium, Germany, Spain and Portugal had asked for a review of the deal, announced by the two companies in December, citing anti-competitive concerns. Under the terms of the deal, P&G would buy Chicago-based Sara Lee’s Ambi Pur brand for about $470 million. The air freshener line, sold in the U.K. and Europ...