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Rediff.com  » Business » Big deal! P&G keen to gobble up Unilever for $62 bn

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

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

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

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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.

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Image: Procter and Gamble office.

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

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

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Image: A mega offer likely.

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

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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.

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Image: Rivals may seal a deal.

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

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"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.

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

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

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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.

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Image: Both companies bullish in India.

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

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"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.


Image: Deal to impact FMCG sector.

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