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Deal with Sara Lee falls under scrutiny.
April 1, 2010
By: TOM BRANNA
Editor
The European Union will examine Procter & Gamble Co.’s bid to buy Sara Lee Corp.’s European air freshener business, Reuters reported Wednesday.
Regulators from the United Kingdom, Belgium, Germany, Spain and Portugal had asked for a review of the deal, announced by the two companies in December, citing anti-competitive concerns.
Under the terms of the deal, P&G would buy Chicago-based Sara Lee’s Ambi Pur brand for about $470 million. The air freshener line, sold in the U.K. and Europe, has annual sales of about 260 million euro.
Procter & Gamble, headquartered in Cincinnati, develops, manufactures and markets consumer products and pharmaceuticals.
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