P&G to Acquire Gillette for $57 Billion

[davidinalameda]

http://www.latimes.com/news/nationworld/nation/la-012805gillette_wr,0,2288416.story?coll=la-home-headlines

Procter & Gamble Co., the leading U.S. maker of household products whose brands include Crest, Pampers, Tide and Charmin, is buying the razor and battery maker Gillette Co. for $57 billion in a deal that will create the world's biggest consumer-products enterprise, the companies announced today.

The merger, which must still be approved by regulators and shareholders, would create a company with revenues of more than $60 billion that would have even greater clout against mass-market retailers like Wal-Mart Stores Inc., which have been pressuring consumer product suppliers to keep costs low.

[HughBeaumont]

1. Looks like that Onion article about Six Corporations . . .

may become reality soon. And the joke will be on the working people of this world.

[Guns Aximbo]

2. now they'll SHAVE a few people off the payroll...

sorry for the pun - I couldn't resist.

[HughBeaumont]

3. Some jobs will be CUT, no doubt . . .

:)

[radric]

4. 6k was the figure I heard this morning..

[HughBeaumont]

5. Sad. I really feel for those people because I've been there.

Mergers are NEVER good for Joe and Jane Cubeslave on either side of the fence.

[evolvenow]

6. P & G--MASSIVE ANIMAL TESTING -BOYCOTT!!! Disgusting,Greedy, Bastards

[TO Kid]

7. Been talking about this at the office today

Word on the street is that they're doing this so that when Wal-Mart pushes, they can push back.