P&G picks up Gillette for $57 billion
New Delhi: The Procter & Gamble Company has announced that it has signed a deal to acquire 100 per cent of The Gillette Company. Gillette markets a number of category-leading consumer products such as Gillette razors and blades including the Mach3.

The transaction is valued at approximately $57 billion, making it the largest acquisition in P&G history. P&G will acquire all of Gillette's business, including manufacturing, technical and other facilities.

The transaction, which is subject to certain conditions including approval by Gillette's and P&G's shareholders and regulatory clearance, is expected to close in Fall 2005.
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