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Industry NewsColgate-Palmolive CEO signals it may be ready to sell

Colgate-Palmolive CEO signals it may be ready to sell

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Thursday, May 18, 2017

Colgate-Palmolive’s CEO, Ian Cook, recently signaled he would be open to selling the company – which has grappled with sluggish demand for its toothpaste, deodorants and food products – for US$100 a share, according to a New York Post article.

The $100-per-share price tag, which would value the consumer-products giant at more than US$88 billion, was mentioned during a meeting with institutional investors that took place in recent weeks, a source with knowledge of the conversation told the Post.

Rumors about possible deals – potentially with Unilever – have swirled around the New York-based conglomerate, which has struggled to increase sales of its household staples.

Aside from the Unilever chatter, speculation has been stoked partly by the fact that activist Nelson Peltz owns a stake in Procter & Gamble, and may be looking to spark sector consolidation, the news report says. Other possible suitors include Johnson & Johnson as well as the partnership formed by billionaire Warren Buffett and Brazilian conglomerate 3G Capital, which owns Kraft Heinz.

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