At the same time, P&G is getting closer to a deal to acquire Sara Lee's international
household-products unit. It's also looking at the consumer-products portfolio of Schering-Plough, which is merging with Merck, as well as that of Wyeth, which was just acquired by Pfizer. It may
be interested in Alberto-Culver, too, although no one's saying that any of those companies is ready to sell.
McDonald aims to "get more aggressive and do deals that
will enhance what the company has," according to a person familiar with the matter. A more aggressive deal-making stance from P&G could shake up the entire consumer-products segment,
McCracken and Byron point out.
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Meanwhile, Reuters
reports this morning that P&G's quarterly profit of $1.06 per share is about 7 cents above expectations. Net sales fell 6% to $19.8 billion, with declines in every category ranging from
beauty to snacks and pet care, but organic sales, which exclude the impact of currency fluctuations, acquisitions and divestitures, rose 2%. P&G had predicted such sales would be flat to down 3%,
Jessica Wohl reports.
In other promising news this morning, MarketWatch reports that the GDP rose 3.5% in the third quarter, meaning "the Great Recession is likely over in a technical sense, even as further job losses occur."
Read the whole story at Wall Street Journal, Reuters, MarketWatch »