Alberto Culver shareholders approve sale to Unilever

Simple: Alberto Culver brand
Simple: Alberto Culver brand

Shareholders in Simple brand owner Alberto Culver have backed a proposed $3.7bn (£2.38bn) acquisition of the company by Unilever.

Shareholders have now backed proposals made by the Alberto Culver board in September, despite initial reservations and the threat of legal action.

Unilever will pay $3.7bn in cash and is the company's second major purchase this year, following the $1.2bn (£1bn) acquisition of Sara Lee's homecare and laundry businesses completed earlier this month.

The US Department of Justice has submitted a second request for information as part of a review of the deal, which may yet be further examined by the regulatory authorities in the EU.

For the Sara Lee acquisition, Unilever agreed to offload the Carex brand in order to satisfy European regulators' concerns about the deal's impact on competition.

Alberto Culver sponsored FHM's annual '100 Sexiest Women' poll earlier this month as part of a campaign aimed at younger male customers.

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