Both Henkel and Coty have tabled an offer for parts of Procter & Gamble, which is currently selling off assets it has labeled as "non-essential".
Henkel has bid for Procter & Gamble's hair care products, containing brands like Wella and Clairol. The branch is currently valued at 5 to 7 billion dollars (4.4 - 6.2 billion euro) and Henkel is in pole position to get the deal done, although private equity firm KKR & Co has also shown an interest.
Coty, which mostly makes perfume for brands like Calvin Klein and Marc Jacobs, has made a bid for P&G's perfume and cosmetics branch. For the cosmetics branch alone, worth some 3 billion dollars (2.64 billion euro) and which contains brands like Max Factor, it will have to compete with investments companies Clayton Dubillier & Rice and Warburg Pincus. The latter is also interested in P&G's perfume department, which is worth some 2 billion dollars (1.76 billion euro) and produces perfurms for brands like Hugo Boss and Gucci.
CEO A.G. Lafley said last year P&G no longer wanted to expand and would even sell off about half of its brands. Some examples of previous sales were Duracell and several of its soap brands.