Henkel CEO downplays Wella takeover speculation: paper

The chief executive of Henkel & Co KGaA AG (HNKG_p.DE) poured cold water on speculation the consumer goods maker was preparing to buy hair care firm Wella from Procter & Gamble Co (PG.N), saying his company didn't need big acquisitions to grow. "We don't absolutely have to have big, multi-billion-euro acquisitions to reach our financial goals," Henkel CEO Kasper Rorsted told German newspaper Welt am Sonntag in a version of the interview set to appear on Sunday. Reuters reported earlier this week that Henkel had made an offer for P&G's hair care business, with a valuation that could reach $5 billion to $7 billion.

Henkel CEO downplays Wella takeover speculation: paper source: http://finance.yahoo.com/news/henkel-ceo-downplays-wella-takeover-143825618.html