Procter & Gamble removes the batteries
CINCINNATI (AP) — Procter & Gamble is removing the batteries and making Duracell a stand-alone company.
P&G, which acquired Duracell in 2005, announced earlier this year that it would shed more than half its brands around the globe over the next year or two.
If a split off occurs, P&G said that its shareholders would have the option of exchanging some, none or all of their P&G shares for shares of the newly formed Duracell company.
The Procter & Gamble Co., based in Cincinnati, said Friday that it is also considering a spinoff, sale or other options for Duracell.
Shares of P&G climbed slightly in Friday premarket trading.