The shares rose as high as $90.90 in late trading, which was shortened on the day after the Thanksgiving holiday. As of 3:46 p.m., they had pared the gains to $90.58. Cincinnati-based P&G has climbed 11 percent this year, including a 1.7 percent gain during regular trading today.
A potential sale of the Wella unit, which P&G is working with Goldman Sachs Group Inc. on, may be worth around $7 billion, Reuters reported today. Wella includes a professional business in addition to consumer products.
Paul Fox, a spokesman, declined to comment.
P&G announced a plan in August to divest 80 to 100 product lines, accounting for about 10 percent of its revenue, and already has sold its pet-food businesses to
Mars Inc. and Spectrum Brands Holdings Inc. The company earlier this month said it would sell the Duracell battery brand to Berkshire Hathaway Inc. for $4.7 billion in stock.
To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net
To contact the editors responsible for this story: Kevin Orland at korland@bloomberg.net Andrew Pollack
Duracell batteries hang on a display rack in a supermarket in Princeton, Illinois, U.S.... Read More
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