Pocter & Gamble Shares Edge Higher

Procter & Gamble Co. (P&G) shares edged higher Monday after an article in Barron’s called the stock a steal ahead of its merger with consumer products giant Gillette Co. P&G shares gained 75 cents, or 1.4 percent, to $55.29 in afternoon trading on the New York Stock Exchange. The shares are about 4 percent off their 52-week high of $57.40, but well above their year-low of $50.53. The company gained after a portfolio manager said P&G shares are trading at a 30% 40% discount to their real value. The $57 billion deal has received shareholder approval from both companies, and was cleared by European regulators, but is pending final approval from the Federal Trade Commission. Procter & Gamble said it expects to close the deal this fall.