GILLETTE-DURACELL MERGER APPROVED.BOSTON--(BUSINESS WIRE)--December 30, 1996--The Gillette Company (NYSE NYSE See: New York Stock Exchange :G) and Duracell Duracell is a brand of batteries manufactured by Procter and Gamble. Duracell is the leading brand of batteries worldwide. Additionally, Duracell owns the Procell professional-use brand. International Inc. announced that at special meetings of the two companies held today, stockholders took the necessary actions to allow the previously announced merger transaction to be completed. Upon the merger, each outstanding share of Duracell common stock will be converted into 0.904 of one share of Gillette common stock and Duracell stock options will become options on Gillette common stock on the same basis. The merger is set to become effective at the close of business on December 31, 1996. CONTACT: The Gillette Company David A. Fausch, Corporate Public Relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most , (617) 421-7765 or Everett R. Howe, Corporate Investor Noun 1. corporate investor - a company that invests in (acquires control of) other companies company - an institution created to conduct business; "he only invests in large well-established companies"; "he started the company in his garage" Relations, (617) 421-7750 |
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