Colgate-Palmolive CEO Hints At Selling Company, New York Post Reports
Consumer products conglomerate Colgate-Palmolive Co.’s Chief Executive Officer Ian Cook is open to selling the company as it battles sluggish demand across its lineup of products, according to a New York Post report.
Cook signalled that he’d be open to selling the company at $100 a share, the report said citing sources. This would value the company at over $88 billion. The decision reportedly came at a meeting with institutional investors that took place in recent weeks.
Colgate-Palmolive, which has struggled to boost sales, is being stalked by London-based giant Unilever Plc.
Other probable buyers could include Johnson & Johnson, and the partnership of billionaire Warren Buffett and 3G Capital, the report added.