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Gillette Contests Massachusetts Subpoena

December 9, 2005

Gillette filed an action contesting the subpoena issued by Massachusetts Secretary of the Commonwealth William Galvin requesting information related to its planned acquisition by Procter & Gamble. Gillette is also seeking a declaration by a court that the secretary lacks jurisdiction over the acquisition, the company said.
Galvin opened an inquiry into the deal in February, focusing on a payment to Gillette’s CEO and chairman James Kilts that may have violated a state law that requires company officers to place shareholder interests first. Gillette said it has voluntarily cooperated with Galvin by producing documents in response to four prior informal requests.
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