Alberto Culver To Be Bought By Unilever For $3.7 Billion
Customer products creator Unilever NV said Monday it has made the decision to buy Alberto Culver Co., the U.S. creator of cosmetic products such as TRESemme, VO5 and Noxzema, for $3.7 billion in a management-backed contract.
Unilever, which helps make Dove cleansers, degree deodorants and Suave hair shampoos, said it will make available $37.50 per write about for Alberto Culver, a 19 % premiums to its last value in ny on Friday. The offer must be accepted by managers and Culver investors.
Graham Jones, expert at Panmure Gordon & Co., said the value was “on the large side” but he saw the buy as favorable for Unilever.
“It further skews Unilever to large growth, large margin personal care categories, gives a more rounded class presence in hair care and helps make it worldwide head in hair conditioning, No. two in shampoo and No. 3 in styling,” he said in a be aware Monday.
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