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Rediff.com  » Business » Big deal! P&G keen to gobble up Unilever for $62 bn
This article was first published 13 years ago

Big deal! P&G keen to gobble up Unilever for $62 bn

Last updated on: June 2, 2011 11:08 IST

Image: Procter and Gamble office.
In what could be one of the biggest deals in the global FMCG sector, consumer goods giant Procter & Gamble is rumoured to be lining up a 38 billion pounds ($ 62 billion) bid for its biggest rival Unilever.

Big deal! P&G keen to gobble up Unilever for $62 bn

Image: A mega offer likely.
Wild rumours are doing the rounds that Procter & Gamble (P&G) could make a mega offer for Unilever, according to British publication Daily Mail.

Big deal! P&G keen to gobble up Unilever for $62 bn

Image: Rivals may seal a deal.

There are "wild rumours from across the pond that Procter & Gamble could be lining up a mega 38 billion pounds or 30 pounds a share break-up bid for one of its biggest rivals (Unilever)," the report said.

Big deal! P&G keen to gobble up Unilever for $62 bn

Image: Anti-trust authorities would not take kindly to such a deal.

"As sceptics quickly said that anti-trust authorities would not take kindly to such a deal, they heard whispers that P&G has apparently already lined up buyers for parts of Unilever it does not want or would have to sell to placate competition authorities," it noted.

Big deal! P&G keen to gobble up Unilever for $62 bn

Image: Both companies bullish in India.
Both P&G and Unilever have significant presence in the fast-growing Indian FMCG market. The publication said that P&G's last major corporate deal was the 1.4 billion pounds sale of its Pringles crisps business to Diamond Foods.

Big deal! P&G keen to gobble up Unilever for $62 bn

Image: Deal to impact FMCG sector.
"Unilever's last big purchase was the 2.3 billion pounds acquisition of Alberto Culver, the company behind the likes of VO5, Tresemme and Simple," the report added.

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