From CBS Marketwatch.According to a story in online edition of the Journal Thursday evening citing people familiar with the matter, P&G is offering 0.975 P&G shares for each share of Gillette outstanding.
That would value Gillette (G: news, chart, profile) shares at $53.94, based on P&G's closing price of $55.32 Thursday.
The offer is 17.6 percent above Gillette's closing price of $45.85 Thursday. Gillette shares, which hit a 52-week high Thursday of $45.90, have risen from about $40 in the fall. P&G stock has risen 32 percent during the past two years, giving the company strong currency to engineer a major acquisition
Jan 28, 2005
Procter & Gamble in merger with Gillete
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