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Procter & Gamble may find itself in a bidding war.
November 18, 2009
By: TOM BRANNA
Editor
S.C. Johnson is set to enter a bid for the household business of Sara Lee, according to The Wall Street Journal. If so, Procter & Gamble, an early suitor for the unit, may find itself in a bidding war. The deal price for the unit could reach more than $700 million, according to WSJ.
Sara Lee and S.C. Johnson officials both declined to comment.
Sara Lee is trying to sell its international household goods business as part of an effort to focus on its core food and beverage products. However, no bidder has emerged for the full unit.
S.C. Johnson would be able to combine Sara Lee’s Ambi Pur air freshner business, which had about $470 million in sales last year, with its Glade air freshner business.
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