LONDON (CNNMoney.com) -- Alberto Culver, the maker of Tresemme and Alberto VO5 haircare products, said Monday it has agreed to a $3.7 billion buyout.
The Melrose Park, Ill.-based company said it has reached a deal to be bought by global consumer goods giant Unilever.
Unilever will pay $37.50 a share for Alberto Culver (ACV), which represents a 19% premium to the company's closing price on Friday.
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On Wednesday, 17% of First Green Bank's 66 employees will get a raise under the company's new "living wage" program. The guarantee: At least about $30,000 a year. More