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October 7, 2004
By: TOM BRANNA
Editor
German consumer goods company Henkel plans to swap its 29% stake in Clorox for a combinationof Clorox’s operating businesses and its stake in a joint venture with Henkel, and $2.1 billion in cash.Nine months ago, Henkel, owner of the Persil brand in Germany and Schwarzkopf hair care andcosmetics, paid $2.9 billion for US soap maker Dial. Henkel executives said the company plannedto finance the Dial deal partially by divesting existing holdings in either Clorox or Ecolab. The Cloroxagreemen...
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