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Stock Market & Financial Investment News

News Breaks
November 15, 2012
09:05 EDTPGProcter & Gamble to increase expected repurchase outlook to $4B-$6B
P&G will increase its expected share repurchase outlook to $4 billion to $6 billion from its previous forecast of $4 billion. The Company will note that if cash results remain ahead of plan, as they were in its fiscal first quarter, there is an upside potential of $6 billion in share repurchase for the fiscal year.
News For PG From The Last 14 Days
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September 25, 2014
10:28 EDTPGProcter & Gamble, Hasbro face tax probe in Mexico, Reuters says
Mexico's Oscar Molina, who previously said seven multinationals were the focus of a government probe of companies that may have been exploiting loopholes to avoid paying sufficient taxes, has now said he is in advanced discussions with two companies to pay more tax for prior years, and five sources have told Reuters those two are Procter & Gamble (PG) and Hasbro (HAS). Reference Link
September 24, 2014
06:42 EDTPGMore e-commerce start-ups undercutting established firms, NY Times says
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September 23, 2014
09:01 EDTPGDistrict court rules in favor of P&G on patent infringement case
In a series of rulings this summer, culminating with a ruling issued on September 15th, the federal District Court for the Southern District of Ohio ruled that Clio USAs tooth whitening strip products infringe several P&G patents related to P&Gs Crest Whitestrips products. The Court also rejected Clios arguments that the patents are invalid.
08:00 EDTPGSpectrum Brands to acquire P&G's European pet food business
Procter & Gamble (PG) announced that Spectrum Brands (SPB) has agreed to buy IAMS and EUKANUBA brands in Europe for an undisclosed amount. In April, P&G announced the sale to Mars of 80% of its global Pet Care business, including North America and Latin America. Europe was not included in that deal with the exception of Russia and Turkey. Mars later agreed to buy an additional 10% of the business in additional markets including Japan, Australia and South Africa. With the Spectrum transaction, P&G now has closed deals or reached agreements to sell 100% of its Pet Care business. The deal will close in 2015, subject to regulatory approvals. The geographic regions included in the acquisition, which account for approximately 10% of P&Gs former pet care global sales, include 42 markets throughout Europe. The business has approximately $200M of annual sales and will provide Spectrum Brands United Pet Group division access to the $21B European dog and cat food market which is growing at an estimated 3%-5% annually. The acquisition has been approved by Spectrum Brands' board.
September 20, 2014
22:05 EDTPGClorox turned down offer to sell or merge with rival, NY Post says
In the last three to six months consumer packaged-goods company Clorox (CLX) turned down an offer from a rival interested in a sale or merger, says the NY Post, citing sources. The NY Post added that logical suitors for Clorox include Church & Dwight (CHD), Procter & Gamble (PG), Jarden (JAH) and Unilever (UN,UL). Reference Link

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