Alberto-Culver May Cancel Sale to Regis
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Alberto-Culver Co., maker of Alberto VO5 and Tresemme shampoos, said it may terminate a plan to sell more than 3,200 Sally Beauty supply stores to Regis Corp. for $2.78 billion because of concerns about Regis’ financial outlook.
Alberto-Culver’s board agreed to withdraw its recommendation of the sale. Regis now has five business days to terminate the sale or decide it wants Alberto-Culver’s shareholders to vote, Alberto-Culver said.
Earnings shortfalls and revised forecasts by Regis prompted the move, Melrose Park, Ill.-based Alberto-Culver said.
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