Unilever To Snap Up Alberto Culver For $3.7B

Law360, New York (September 27, 2010, 2:34 PM EDT) -- Consumer goods giant Unilever PLC has agreed to shell out $3.7 billion in cash to pick up Alberto Culver Co., further expanding its portfolio of hair-care and other personal products as part of a push to double its global sales.

Both companies said Monday that their boards of directors had unanimously approved the deal. Unilever will buy all outstanding Alberto Culver shares for $37.50 each, an 18 percent premium over the stock's all-time high closing price, reached earlier this year.

Unilever will add Alberto Culver brands...
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