Procter & Gamble Co., Cincinnati, confirmed it will review an acquisition of Bristol-Myers Squibb Co. 's Clairol unit when the prospectus becomes available but isn't right now considering a swap of its drug brands for the haircare company. In a filing with the Securities & Exchange Commission P&G executives said, "P&G presently is not considering a swap of its pharmaceutical or OTC business as part of future discussions with Bristol-Myers Squibb." Advertising Age reported on Monday P&G officials are waiting for the Clairol prospectus later this month. Bristol-Myers Squibb placed the unit on sale as part of plans to concentrate on its pharmaceutical business.
Copyright November 2000, Crain Communications Inc.