Asia Bizz: Unilever To Take Over Alberto Culver For $3.7 Billion
Unilever one of the worlds largest consumer products manufacturer, will take over Alberto Culver Co. for a whopping $3.7 billion. Once the purchase is done, products like VO5, Nexxus and TRESemme hair-care products, will be included in the Unilever range. Unilever will be paying $37.50 per share and $3.7 billion in cash for the purchase. The agreed share price figure is about 19% higher than the closing price of the share on the 24th of Sept.
For Unilever, taking over Alberto Culver will be the biggest purchase deal of the decade. The company will be expecting to see positive changes in the profit income from the first year onwards. According to Martin Deboo, who is an analyst at the Investec Securities in London, said “Itâ€™s a sensible deal, has good strategic rationale and is positive, but itâ€™s not transformational — itâ€™s a bolt-on deal like the Sara Lee one”
On Monday, Unilever share prices rose by 2.1% in the market, closing at â‚¬22.31. The analysts at the company state that this deal makes the future earning for the company even brighter, as Unilever has already made a mark in the Global Market.