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News Update: P&G CEO Says Company Won't Bid for Alberto-Culver

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Uploaded by on Sep 29, 2010

In an interview with Bloomberg, Procter & Gamble (NYSE:PG) CEO Rob McDonald said P&G would not counter Unilever's (NYSE:UN) bid for Alberto Culver (NYSE:ACV), citing potential antitrust issues.

Earlier this week, Unilever announced it was offering $3.7 billion for the hair products company in an all-cash deal.

SmarTrend is bullish on shares of Alberto-Culver and our subscribers were alerted to buy on August 25, 2010 at $30.21. The stock has risen 24.8% since the alert was issued.

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