Procter & Gamble Eyes Gillette

World | January 28, 2005, Friday // 00:00

Procter & Gamble announced it is to buy men's grooming firm Gillette for USD 57B. The deal will be paid for mainly in P&G shares, and will create the world's largest stable of consumer brands, the firms said. P&G said the combination of the two sector leaders when both are doing well was "a unique opportunity". The deal will involve 6,000 jobs cuts, 4% of the combined workforce.

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