Jul. 27, 2015, 6:04 PM
- The WSJ reports Procter & Gamble (NYSE:PG) plans to name David S. Taylor, head of the company's Global Beauty, Grooming, and Healthcare ops, its next CEO, replacing A.G. Lafley.
- The announcement could reportedly arrive as soon as Thursday, the day P&G's FQ4 report is due. Lafley, 67, was P&G's chief for much of the 2000s, and rejoined as chairman/CEO in 2013.
- PG -0.4% AH.
- Update: More details here. The WSJ states P&G's board is meeting on Tuesday. Lafley is expected to "remain as chairman to help with the leadership transition."
Jul. 14, 2015, 7:03 AM
- Procter & Gamble (NYSE:PG) declares $0.6629/share quarterly dividend, in line with previous.
- Forward yield 3.24%
- Payable Aug. 17; for shareholders of record July 24; ex-div July 22.
Jul. 13, 2015, 11:29 AM
- Bernstein thinks Procter & Gamble (PG +1.2%) would be smarter to break up than continue to sell off its brands in pieces.
- The investment firm bases its view off of analysis on the returns of other spinoffs and companies utilizing divestiture strategies in the consumer sector.
- Bernstein: "We believe this analysis supports our view that a more significant break-up of Procter & Gamble will result in two (or more) entities that can easily overcome the loss of scale “benefits” and be more nimble, more flexible, and less complex than even the soon-to-be slimmed down Procter & Gamble."
- P&G has lagged the S&P 500 over the last year.
Jul. 9, 2015, 8:40 AM
- Coty (NYSE:COTY) is acquiring 43 of Procter & Gamble's (NYSE:PG) beauty brands in a complicated deal valued at $12.5B.
- P&G expects to record a one-time gain of anywhere from $5B-$7B on the transaction, which includes its hair color brands, retail cosmetics and fine fragrance businesses.
- While the final form of the deal has not yet been confirmed, P&G said it aimed to do a "Reverse Morris Trust," which involves both spinning off an asset and simultaneous merging it with something else.
- PG +1.5%; COTY +2.2% premarket
Jul. 8, 2015, 10:57 AM
- Procter & Gamble (PG -0.1%) is changing the packaging of some Olay skin-care products and has agreed to pay $850K in civil penalties and costs as part of a settlement with California prosecutors.
- The company was accused of misleading consumers by selling jars of face cream in packaging that was at times much larger than its contents.
- "There was never any intention to misrepresent the size of our products," P&G spokesman Bryan McCleary said.
- Last year, P&G settled a private lawsuit that alleged its Old Spice deodorant sticks contained too much dead space.
Jun. 24, 2015, 12:47 PM
- Analysts looking at the severance package offered by Coty (COTY -0.3%) to the "retired" Elio Leoni Sceti think it's a strong sign the company is close to finalizing a deal to buy Procter & Gamble's (PG -0.2%) beauty business assets.
- Sceti, who was reported to have been against the P&G deal, will walk away with $1.8M - despite still being a week from starting his official duties.
- Bart Becht is viewed as a more logical choice to direct Coty if an extra $12B of P&G assets come on board, instead of Sceti with his organic growth bend.
- Previously: No new boss at Coty after all (Jun. 23 2015)
Jun. 23, 2015, 7:12 AM
- Dollar Shave Club lands a $75M in a new capital raise that values the company at more than $600M.
- The upstart isn't the only company looking to disrupt the razor blade market long dominated by Procter & Gamble (NYSE:PG) and Energizer (NYSE:ENR).
- Online sales of razor blades in the U.S. have more than doubled this year to $141M through May to rep close to 8% of all razor blade sales.
Jun. 16, 2015, 9:56 AM
- Coty (COTY +14.7%) pops after reports indicate the company landed Procter & Gamble's (PG +1.2%) beauty product assets.
- Final details on the deal aren't expected to be disclosed for another two weeks, according to sources.
- Early analysis on Coty's aggressive play is favorable with some industry watchers noting the company will gain a pricing edge and operating efficiency at scale through the acquisition.
- Indications are that the deal will be structured as a Reverse Morris Trust where P&G will spin off the assets into a new entity that will absorb Coty.
- Shares of Elizabeth Arden (RDEN +1.5%), Inter Parfums (IPAR +0.8%), and Estee Lauder (EL +1.2%) are also active on the day off the consolidation move in the sector.
- Previously: P&G assets on the block (Jun. 09 2015)
- Previously: Report: Coty acquires beauty product lines from P&G for $12B (Jun. 15 2015)
Jun. 15, 2015, 6:34 PM
- Coty (NYSE:COTY) +7.5% AH after the NY Post reports it has acquired three beauty products and fragrance lines from Procter & Gamble (NYSE:PG) for as much as $12B combined.
- The businesses are believed to include PG's Max Factor, CoverGirl and Wella hair care brands, and would catapult Coty into the big leagues in the consumer space.
- Other bidders reportedly had included Henkel (OTCPK:HENKY) and P-E firms KKR, Clayton Dubilier & Rice and Warburg Pincus.
Jun. 15, 2015, 7:57 AM
- Henkel (OTCPK:HENKY) CEO Kasper Rorsted dismissed talk the company was close to an acquisition of Procter & Gamble's (NYSE:PG) Wella business in an interview with a German publication.
- Reports from last week indicated Henkel was willing to pay up to $7B for the hair care P&G unit.
- KKR & Co. was also reported to be on the hunt for Wella.
Jun. 9, 2015, 3:04 AM
- Stepping closer to shedding some more non-core assets, P&G (NYSE:PG) has received several binding offers for separate parts of its beauty business.
- Bidders, including Henkel (OTCPK:HENKY), Coty (NYSE:COTY) and P-E firms KKR (NYSE:KKR), Clayton Dubilier & Rice and Warburg Pincus, have made offers in the billions of dollars for P&G's haircare unit, cosmetics division and fragrance business.
- CEO Lafley said last August he would reverse the company's strategy of aggressive expansion and unload more than half of its brands.
- Previously: Personal care companies prep bids for P&G beauty brands (Apr. 16 2015)
Jun. 4, 2015, 11:53 AM
- Hilliard Lyons upgrades Procter & Gamble (PG -0.3%) to a Long-Term Buy rating after having the consumer staples giant slotted at Neutral.
- P&G is seen as achieving higher revenue growth rates after it completes the process of shedding under-performing brands.
- The YTD return on P&G trails peers Kimberly-Clark, Clorox, and Unilever.
May 22, 2015, 12:11 PM
- Bernstein thinks Procter & Gamble (PG -0.3%) should split into two or three large companies - instead of sticking with the current plan of shedding smaller unprofitable business lines in a piecemeal fashion.
- The analysts at the investment firm call P&G an inflexible and slow-moving behemoth that no longer can outperform based on scale alone.
- Shares of Procter & Gamble are -12.0% YTD.
May 21, 2015, 9:08 AM
- Procter & Gamble (NYSE:PG) will announce later today it has sold its Frederic Fekkai business to a subsidiary of Shaneel Enterprises, according to Women's Wear Daily.
- The company has been trimming unprofitable businesses in an effort to narrow its focus.
May 5, 2015, 9:11 AM
- Avon Products (NYSE:AVP) is having a hard time landing bids for its North American business or the company itself, reports New York Post.
- Sources tip logical suitor Coty (NYSE:COTY) is more interested in buying the CoverGirl and Max Factor brands from Procter & Gamble (NYSE:PG).
- Procter & Gamble is in the middle of a broad brand-shedding program.
- Shares of Coty are up 19.8% YTD compared to the 13% drop in Avon.
Apr. 29, 2015, 7:53 AM
- Procter & Gamble (NYSE:PG) took on a downgrade from Europe earlier today with Societe Generale moving to Hold rating from Buy.
- There's been a slow reaction from investment firms to P&G's brand-shedding plans with many price targets taken back below $100.
- Concerns on F/X and operating costs are also in the background.
- PG -0.3% premarket to $80.20.
Procter & Gamble Co. engages in the provision of branded consumer packaged goods to its consumers around the world. Its products are sold primarily through mass merchandisers, grocery stores, membership club stores, drug stores, high frequency stores, and neighborhood stores which serve many... More
Sector: Consumer Goods
Industry: Personal Products
Country: United States
Other News & PR