P&G to Acquire Gillette for $57 Billion
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Cincinnati-based P&G will pay 0.975 of a P&G share for each share of Gillette. Based on P&G's closing price of $55.32 per share Thursday, the deal values Boston-based Gillette at about $54 per share—an 18 percent premium over its closing price.
News of the deal sent Gillette's shares soaring $5.72, or 12.5 percent, to $51.40 in early trading Friday on the New York Stock Exchange, while P&G's fell $1.50, or 2.7 percent, also on the NYSE.
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