Alberto-Culver Shareholders Decry $3.7B Unilever Deal

Law360, New York (October 7, 2010, 12:57 PM EDT) -- Unilever PLC’s proposed $3.7 billion acquisition of Alberto-Culver Co. has triggered at least three putative shareholder class actions alleging the deal fails to get top dollar for the hair-care company.

Since Tuesday, shareholders have filed three complaints in the Delaware Chancery Court to derail a transaction they say gives Unilever a booming business at fire-sale prices, leaving the Alberto-Culver Co. board liable for breaching their fiduciary duty to the shareholders.

Laborers Local 235 Benefit Funds led the charge, followed by the City of Riviera Beach General...
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