Exclusive: Henkel, Coty submit binding bids for P&G assets: sources

The bids, submitted on Monday, bring P&G one step closer to shedding several assets it considers non-core, as its chief executive officer, A.G. Lafley, presses on with his cost-cutting strategy. Henkel made an offer for P&G's haircare business, which includes the Wella and Clairol brands, and could fetch a valuation of $5 billion to $7 billion, the people said.

Exclusive: Henkel, Coty submit binding bids for P&G assets: sources source: http://finance.yahoo.com/news/exclusive-henkel-coty-submit-binding-005705559.html