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P&G Faces Resistance to Wella Plans

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By: TOM BRANNA

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Procter & Gamble might be left with an awkward core of minority shareholders that could complicate its plans to integrate its biggest acquisition, Wella, the German hair care group.P&G received a boost late on Friday when Henkel, the German consumer group, said it had agreed to sell its holding of Wella ordinary and preference shares, totalling about 7% of the total share capital, to P&G. But Close Brothers, a UK investment bank, warned that a group of Wella preference shareholder...

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