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P&G Makes Initial Bid for Beiersdorf

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By: TOM BRANNA

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According to a Reuters report, Procter & Gamble has given Allianz AG a rough idea of what it may be prepared to pay for the insurer’s 43.6% stake in Beiersdorf, the German manufacturer of Nivea skin care. But industry sources said the preliminary price indication from the U.S. consumer products giant did not meet Allianz’s expectations and an agreement was not imminent. Allianz, which declined to comment, wants to sell its stake in Beiersdorf as part of a strategy to dispose of ...

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