Manufacturing Industry
P&G/Gillette investment advice under scrutiny.(Procter & Gamble Co.)(Brief Article)
Cosmetics International, June, 2005
Did investment banks compromise themselves advising on the Procter & Gamble/Gillette deal? Massachusetts secretary of state William Galvin, who is investigating the proposed Procter & Gamble/Gillette blockbuster merger, may not have made up his mind about whether investment banks like Goldman Sachs and UBS endangered their professional integrity, but the question hangs over the investigation like a bad smell.
Galvin has hired Rajesh Aggarwal, a finance professor at the Carlson School of Management, to evaluate the deal. Aggarwal, quoted in BusinessWeek Magazine, said there were "substantial discrepancies in the [internal and public] estimates of how valuable the merger ..." could be. Last week Galvin subpoenaed the ceo of Goldman Sachs, Henry Paulson, to give...
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