U.S. consumer goods group Colgate-Palmolive (CL.N) secured EU approval on Monday for its $940 million purchase of shower gel and deodorant brand Sanex from Unilever (ULVR.L). Anglo-Dutch company Unilever was forced to sell Sanex in return for EU regulatory clearance for its acquisition of U.S. group Sara Lee's personal care business. Sanex' sales are mainly in western Europe. The European Commission, the EU competition watchdog, said the deal would not hinder rivals. "The Commission's investigation confirmed that the merged entity would continue to face competition from a number of other strong competitors and that customers would still have sufficient alternative suppliers in all markets concerned," the EU executive said in a statement.
Colgate-Palmolive Company (Colgate) is a consumer products company. Shares of CL traded higher by 0.42% or $0.35/share to $84.46. In the past year, the shares have traded as low as $73.12 and as high as $87.46. On average, 2667580 shares of CL exchange hands on a given day and today's volume is recorded at 689985.
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