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Pastimes : Investment Chat Board Lawsuits -- Ignore unavailable to you. Want to Upgrade?

To: Janice Shell who wrote (7070)	1/27/2005 8:32:07 PM
From: scion	Respond to of 12465

Procter & Gamble Is Nearing Deal to Acquire Gillette By NIKHIL DEOGUN Staff Reporter of THE WALL STREET JOURNAL January 27, 2005 8:18 p.m. Procter & Gamble Co., after making an aggressive and successful push into the women's beauty business, is near a deal to buy Gillette Co. in a stock-swap transaction that would be valued at roughly $55 billion, according to people familiar with the matter. The companies had no immediate comment. Under terms of the deal, P&G is offering 0.975 P&G shares for each share of Gillette outstanding. That would value Gillette shares at $53.94, based on P&G's closing price of $55.32 in 4 p.m. trading on the New York Stock Exchange. The offer is 17.6% above Gillette's closing price of $45.85 Thursday. Gillette shares, which hit a 52-week high Thursday of $45.90, have risen from about $40 in the fall. P&G stock has risen 32% during the past two years, giving the company strong currency to engineer a major acquisition. Write to Nikhil Deogun at nikhil.deogun@wsj.com