Alberto Shareholders To Settle $3.7B Unilever Deal

Law360, New York (November 29, 2010, 7:48 PM EST) -- A group of institutional shareholders of Alberto Culver Co. have agreed to lay down the sword in their multiple lawsuits over Unilever PLC's proposed $3.7 billion acquisition of the hair-care company.

Under the terms of the settlement, announced Monday by attorneys for the plaintiffs, Alberto Culver has agreed to alter key features of its acquisition agreement with Unilever that the shareholders had asserted prohibited enhanced value from competing bidders.

As part of the deal, Melrose Park, IL-based Alberto Culver will eliminate the matching rights it had...
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