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July 7, 2003
By: TOM BRANNA
Editor
Procter & Gamble Co. has received antitrust clearance from the Federal Trade Commission for its acquisition of German hair products company Wella AG. The commission said Monday that it granted the companies early termination of the waiting period required under the Hart-Scott-Rodino Antitrust Improvements Act.Procter & Gamble agreed to acquire 78% of Wella’s voting shares on March 17 for about $7 billion. Regulatory approvals for the takeover are also needed from other countries ...
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