P&G assets on the block

|By:, SA News Editor

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)

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