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.
New York Magazine reporter Jessica Pressler, who has been caught up in controversy this past week, will not be moving on to a new job at Bloomberg News. More
Unilever sued Hampton Creek over its egg-free mayonnaise spread Just Mayo. But the company behind Best Foods and Hellman's mayonnaise has now dropped the lawsuit. More
The income of the top 1% jumped significantly in 2012, far outpacing inflation. Not only did this group make a larger share of the country's income, their share of total taxes also jumped from 35% to 38%. More