In the latest update on P&G's beauty brand divestiture, private equity investors are now thought to be contending for a piece of the sale.
If recent reports are accurate, it means potential suitors like Germany-based Henkel could be out of the running. Henkel was thought to be putting together a $7bn bid, however US media reports – citing undisclosed sources – point to a possible deal with a number of private equity players including Clayton Dubilier & Rice and KKR, formerly the Walgreen-Alliance backer, which ultimately quadrupled it’s money on its Alliance Boots buy-out.
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