Procter & Gamble secures regulatory approvals worldwide for Gillette acquisition
Clients Procter & Gamble Company, The
Jones Day served as U.S., EU, and worldwide coordinating antitrust counsel for Procter & Gamble in connection with the antitrust aspects of its $57 billion acquisition of The Gillette Company, P&G's largest and most important deal ever. The combination created the world's largest producer of consumer goods and personal care products, with 22 billion-dollar brands and projected annual sales of more than $65 billion. Jones Day handled antitrust and competition issues in the U.S., the EC and a number of other jurisdictions around the world (including Canada, Brazil, China, Japan, Mexico, Russia, South Africa, South Korea, Taiwan, Argentina, Australia, Columbia, Israel, Switzerland, Turkey, Ukraine, Venezuela, Bulgaria, Croatia, Kazakhstan, and Romania). The transaction closed approximately eight months after announcement, following intense investigations by the Federal Trade Commission and European Commission, and the negotiation of a consent agreement that required relatively minor divestitures in some business segments.