P&G COLORS ITS HAIR CARE PORTFOLIO WITH CLAIROL BUY

CINCINNATI -- Procter & Gamble here said last week that it would buy the Clairol hair care business from Bristol-Myers Squibb, New York, for about $4.95 billion in cash, giving P&G a major presence in the fast-growing hair-coloring category.In a conference for analysts and media in New York, P&G president and chief executive Alan "A.G." Lafley said the consumer-products giant would leverage its extensive

CINCINNATI -- Procter & Gamble here said last week that it would buy the Clairol hair care business from Bristol-Myers Squibb, New York, for about $4.95 billion in cash, giving P&G a major presence in the fast-growing hair-coloring category.

In a conference for analysts and media in New York, P&G president and chief executive Alan "A.G." Lafley said the consumer-products giant would leverage its extensive hair care expertise to grow the Clairol family of brands, which had

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