Rumours of P&G £38bn Unilever bid dismissed

  • Print
  • Share
  • Comment
  • Save

Experts this week dismissed speculation about a dramatic move by fmcg ­giant Procter & Gamble for its arch rival Unilever.

Reports from the US suggested P&G was lining up a bid worth £38bn, in what would be one of the biggest-ever deals in the sector. However a senior global investment source told The Grocer the idea was a non-starter and described the reports as "nonsense".

A spokesman for P&G also poured cold water on the story. "What we can tell you is that we are primarily focused on growing our business organically," he said.

Any deal was likely to fall foul of competition issues on both sides of the Atlantic, despite reports that P&G was looking to ­address them by lining up bidders such as Nestlé and Reckitt Benckiser for the parts of the Unilever business it either did not want or would be forced to off-load, said analysts.

Another senior banking source said the deal made little sense as Unilever retains a massive food business, while P&G sold off its last major food brand, Pringles, to Diamond Foods in April.

Have your say

These comments have not been moderated.

You are encouraged to participate with comments that are relevant to our news stories. You should not post comments that are abusive, threatening, defamatory, misleading or invasive of privacy. For the full terms and conditions for commenting see clause 7 of our Terms and Conditions ‘Participating in Online Communities’. These terms may be updated from time to time, so please read them before posting a comment.

Any comment that violates these terms may be removed in its entirety as we do not edit comments.

If you wish to complain about a comment please use the “report this comment” facility or email groceremails@wrbm.com

Mandatory
Mandatory
Mandatory
Mandatory
  • Print
  • Share
  • Comment
  • Save
Sign in

Newsletter Sign-up

Free

I wish to receive the following newsletters:

For Members

Become a Gold Member to receive these newsletters:

Become a Finance Member to receive these newsletters:

Become a member of The Grocer

DIRECTORY

The+Grocer+Directory

CLICK HERE to search for the products, services and companies you need in the definitive guide to the UK food and drink industry.

FOLLOW THE GROCER

The Grocer's commentators and opinion makers