Procter & Gamble is reportedly trying to buy a leading stake in Germany’s Beiersdorf, owner of the Nivea brand among others.
P&G is said to be in talks with insurance group Allianz over its 43.6% holding, with an offer expected later this week.
The shares are worth an estimated €3.1 billion ($3bn; £2bn), though under German law the stake is regarded as ‘controlling’, forcing P&G to make an offer for the rest of Beiersdorf’s stock.
Such a deal would likely cost over €10bn – around the price L’Oréal offered over the summer before talks failed.
However, P&G may run into opposition from family holding company Tchibo, which owns 30% of Beiersdorf. Tchibo is thought to be preparing a counter-bid to gain control of the group itself.
Data sourced from: Financial Times; additional content by WARC staff