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P&G to Acquire Gillette for $57 Billion

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davidinalameda Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 11:29 AM
Original message
P&G to Acquire Gillette for $57 Billion
http://www.latimes.com/news/nationworld/nation/la-01280...

Procter & Gamble Co., the leading U.S. maker of household products whose brands include Crest, Pampers, Tide and Charmin, is buying the razor and battery maker Gillette Co. for $57 billion in a deal that will create the world's biggest consumer-products enterprise, the companies announced today.

The merger, which must still be approved by regulators and shareholders, would create a company with revenues of more than $60 billion that would have even greater clout against mass-market retailers like Wal-Mart Stores Inc., which have been pressuring consumer product suppliers to keep costs low.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 11:31 AM
Response to Original message
1. Looks like that Onion article about Six Corporations . . .
may become reality soon. And the joke will be on the working people of this world.
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Guns Aximbo Donating Member (324 posts) Send PM | Profile | Ignore Fri Jan-28-05 11:33 AM
Response to Reply #1
2. now they'll SHAVE a few people off the payroll...
sorry for the pun - I couldn't resist.
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 11:36 AM
Response to Reply #2
3. Some jobs will be CUT, no doubt . . .
:)
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radric Donating Member (124 posts) Send PM | Profile | Ignore Fri Jan-28-05 11:49 AM
Response to Reply #3
4. 6k was the figure I heard this morning..
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HughBeaumont Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Jan-28-05 11:58 AM
Response to Reply #4
5. Sad. I really feel for those people because I've been there.
Mergers are NEVER good for Joe and Jane Cubeslave on either side of the fence.
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evolvenow Donating Member (800 posts) Send PM | Profile | Ignore Fri Jan-28-05 03:16 PM
Response to Original message
6. P & G--MASSIVE ANIMAL TESTING -BOYCOTT!!! Disgusting,Greedy, Bastards
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TO Kid Donating Member (565 posts) Send PM | Profile | Ignore Fri Jan-28-05 03:41 PM
Response to Original message
7. Been talking about this at the office today
Word on the street is that they're doing this so that when Wal-Mart pushes, they can push back.
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