If you're interested in this sort of thing....
6 Comments Published by Tom Gara on Monday, January 31 at Monday, January 31, 2005.
One of the biggest company acquisition deals ever was recently announced - Procter and Gamble, the global consumer goods company, has bought out Gillette, makers of, among other things, the best male shaving device known to mankind .
The cost of the acquisition? Pocket change really, I mean who hasn't at one point had US$57 Billion lying around and not known what to do with it?
As far as I know, the only really valuable brands Gillette owns are the best-frigging-device-ever-made Mach 3 razor, and the Duracell battery range. Thats a lot of money being spent on a great shave and a decent AA battery.
UPDATE: Assem points out in the comments section that super-investor Warren Buffet, Gillettes largest individual shareholder, has made a killing on this deal, seeing his investment in Gillette gain a cool US$645 million in a single day of trading. That is on top of the US$4.4 billion increase in value of Buffet's Gillette shareholding since he bought into the company in 1989. That guy knows how to pick a winner.
The cost of the acquisition? Pocket change really, I mean who hasn't at one point had US$57 Billion lying around and not known what to do with it?
As far as I know, the only really valuable brands Gillette owns are the best-frigging-device-ever-made Mach 3 razor, and the Duracell battery range. Thats a lot of money being spent on a great shave and a decent AA battery.
UPDATE: Assem points out in the comments section that super-investor Warren Buffet, Gillettes largest individual shareholder, has made a killing on this deal, seeing his investment in Gillette gain a cool US$645 million in a single day of trading. That is on top of the US$4.4 billion increase in value of Buffet's Gillette shareholding since he bought into the company in 1989. That guy knows how to pick a winner.
I think the interesting fact is how much did one of the stakeholders of Gillette make in one day cuz of this sale!
http://cnnmoney.printthis.clickability.com/pt/cpt?action=cpt&title=Warren+Buffett+calls+P%26G-Gillette+a+%27dream+deal%27+-+Jan.+28%2C+2005&expire=&urlID=13031346&fb=Y&url=http%3A%2F%2Fmoney.cnn.com%2F2005%2F01%2F28%2Fnews%2Fnewsmakers%2Fbuffett%2Findex.htm&partnerID=2200
Assem
go warren buffet. u need so much money, u need so much money,
more greed more greed yey yey
I just saw Chuck Palahnuik speak at my university...afterwards I had to bum a cigarette it was so good. You must see him in person!
Hey I don't know if dissing Warren Buffet was tongue in cheek or not, but the dude is good at what he does.
A touch of jealousy perhaps?.
ofcourse jealous. one day i will need all of that money to buy everyone in the world as slaves. yes thats it slaves.
and one day when the MNCIs own the world youll be speaking a different language
Speaking a different language?
Well that would be a another reason for me to support the accumulation of wealth by English speaking white men.
Have a good day, Emir.