06.15.15
Whet appetite, speculate, reject and repeat. All those reports of Procter & Gamble selling its Wella hair care business to Henkel may be all wet, according to an article in yesterday's edition of Welt am Sonntag.
Henkel CEO Kasper Rorsted told the German newspaper that his company didn't need big acquisitions to grow.
"We don't absolutely have to have big, multi-billion-euro acquisitions to reach our financial goals," insisted Rorsted. "But you can be sure that we'll still continue to invest our funds cleverly."
Last week, Reuters reported that Henkel had made an offer for P&G's hair care business, with a valuation that could reach $5 billion to $7 billion.
Henkel, maker of Schwarzkopf shampoo, Persil detergent and Pril dishwasher liquid, was considered to be the most likely buyer for Wella, but private equity firm KKR & Co LP had also submitted a bid, Reuters said.
"We're well positioned and we invest in our locations, brands and in innovation as well as in takeovers if they make a good strategic fit and if the price is right," Rorsted told Welt am Sonntag.
Procter & Gamble aims to sell dozens of brands to streamline its sprawling portfolio and focus on more profitable products.
Henkel CEO Kasper Rorsted told the German newspaper that his company didn't need big acquisitions to grow.
"We don't absolutely have to have big, multi-billion-euro acquisitions to reach our financial goals," insisted Rorsted. "But you can be sure that we'll still continue to invest our funds cleverly."
Last week, Reuters reported that Henkel had made an offer for P&G's hair care business, with a valuation that could reach $5 billion to $7 billion.
Henkel, maker of Schwarzkopf shampoo, Persil detergent and Pril dishwasher liquid, was considered to be the most likely buyer for Wella, but private equity firm KKR & Co LP had also submitted a bid, Reuters said.
"We're well positioned and we invest in our locations, brands and in innovation as well as in takeovers if they make a good strategic fit and if the price is right," Rorsted told Welt am Sonntag.
Procter & Gamble aims to sell dozens of brands to streamline its sprawling portfolio and focus on more profitable products.