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FOR IMMEDIATE RELEASE
Alberto Culver Company Announces Agreement to be Acquired by Unilever
Melrose Park, IL, (September 27, 2010) – Alberto Culver Company (NYSE: ACV), a $1.6 billion in revenue leading manufacturer and marketer of beauty care brands including TRESemmé , Alberto VO5 , Nexxus, St. Ives, Simple and Noxzema, today announced that it has entered into a definitive agreement in which Unilever will acquire all of the outstanding shares of Alberto Culver for $37.50 per share in cash, valuing the company at approximately $3.7 billion. The transaction is structured as a merger and is subject to approval by owners holding a majority of Alberto Culver’s outstanding shares, regulatory approvals and other customary closing conditions. The merger agreement was unanimously approved by the Boards of Directors of both companies. The announcement was made by Carol Lavin Bernick, Executive Chairman, on behalf of the Alberto Culver Board of Directors.
The $37.50 per share price represents a 33 percent premium to Alberto Culver’s 12-month volume weighted average share price and an 18 percent premium to its all-time high closing share price achieved earlier this year.
Ms. Bernick said, “Throughout our history, and particularly in the last decade, we have grown Alberto Culver’s key brands’ sales and market shares at a pace exceeding our highly