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February 27, 2003
By: TOM BRANNA
Editor
Shares in German hair care group Wella jumped as much as 17% on Feb. 27 in Germany, with traders pointing to a report that U.S. consumer products giant Procter & Gamble was ready to offer approximately $86 a share for the firm.Industry sources said that P&G had joined other firms circling Wella after P&G’s approach to Nivea-owner Beiersdorf got stuck in a standoff between the company’s two major shareholders. The family that owns Wella was close to reaching agreement, ...
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