Jessica Alba's diaper company may be taken over for over $1 billion

Jessica Alba's The Honest Company may be acquired by the maker of Dove soap for a price well below its $1.7 billion valuation, according to The Wall Street Journal,

The talks with Unilever are in the early stages, the Journal said. The potential deal is valued at over $1 billion, according to the newspaper, which cited sources familiar with the matter. Alba's green products company was valued at $1.7 billion last year, the Journal reports.

The actress's 5-year-old business, which has raised more than $200 million from outside investors, sells household cleaners, diapers and personal care products. An acquisition would give Unilever a footing in the growing market for natural, green cleaning products and the diaper business.

Spokespeople for The Honest Company and Unilever did not immediately respond for CNBC's request for comment on the Journal's report.

Read The Wall Street Journal's full report here.

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Jessica Alba's diaper company may be taken over for over $1 billion