Navigate this market better. Subscribe for FREE stock alerts and information.

Wednesday, January 5, 2011

Beiersdorf shareholder downplays exit talk, (BEIG), (NYSE: PG)

Holders of a controlling stake in Germany's Beiersdorf (BEIG.DE) downplayed talk of a potential sale to U.S peer Procter & Gamble (PG.N) after shares of the Nivea skin cream maker had jumped to a 4-week high. Maxingvest, the vehicle through which the Herz family owns 50.46 percent of Beiersdorf, said its was committed to its holding in Nivea company. "The investment in Beiersdorf is for the long term," said a spokesman for Maxingvest, declining to comment any further.