MARKET DEVELOPMENT
Unilever\'s $3.7bn acquisition will boost palm purchasing power
Unilever\'s $3.7bn acquisition will boost palm purchasing power
27/09/2010 (Agra-net.com) - UNILEVER, the Anglo-Dutch consumer goods giant, will have even more sway in the world palm oil markets after making its biggest deal in a decade, landing US personal care group, Alberto Culver, for $3.7bn.
Unilever, which makes Dove, Pond's skin cream, Vaseline and Suave shampoos, will become the biggest maker of hair conditioning products in the world and the second-largest in shampoo after the bolt-on acquisition. Unilever will pay $37.50 a share for Illinois-based Alberto Culver , which has brands including TRESemme, Simple, VO5 and Nexxus, a 19% premium on its September 24 closing price.