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Unilever buys Alberto Culver for $3.7 billion

By CNNMoney.com staff

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.

Alberto Culver owns a wide range of beauty care brands. In addition to haircare products, it also is the manufacturer of skincare lines Noxzema and St. Ive's. To top of page

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