P&G, Gillette Ask EU to Greenlight Merger

30 May 2005

The globe's largest advertiser, Procter & Gamble, on Friday formally applied to the European Commission for approval of its merger with the Gillette Company, the Financial Times reports.

The Brussels-headquartered commission, the executive arm of the European Union, must decide within four weeks whether to greenlight the merger as it now stands - or to set in motion a full scale four-month inquiry.

In particular the EC will weigh whether the deal raises anticompetitive issues, such as the creation of a dominant position in particular markets. The marriage would hatch the world's largest consumer goods company, in which P&G is the dominant partner.

Assuming EU approval within four weeks, Procter expects to finalize the deal this fall.

Data sourced from Forbes.com; additional content by WARC staff