Consumer goods company Procter & Gamble and personal care appliance maker Gillette have received a request for additional information about their merger plans from the U.S. Federal Trade Commission (FTC).
The companies said the request “is typical in a transaction of this size and was expected.” P&G announced an agreement to acquire Gillette for
U.S.$57 billion in stock on Jan. 28, 2005.
The companies said they intend to respond to the request promptly and continue to believe the transaction will close in the fall of 2005. (MarketWatch)