Procter & Gamble is getting bids from rivals for the beauty products it is divesting. Henkel & Co and Coty Inc. submitted bids worth a combined $12 billion, per sources. Other bidders were
multiple private equity firms. Henkel made an offer for P&G's haircare business, which includes the Wella and Clairol brands. Those could leave the block for $5 billion to $7 billion. Private
equity firm KKR & Co. also submitted another bid for the haircare business.
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