St. Ives approached two other companies after receiving Alberto-Culver proposal -- proxy.
This article was originally published in The Rose Sheet
Executive Summary
ST. IVES' LACK OF CRITICAL MASS CITED BY COMPANY as one reason behind management's decision to merge with Alberto-Culver. In a Jan. 8 proxy statement, St. Ives pointed out that "increasingly larger companies in the health and beauty products industry with greater marketing and production resources are gaining greater opportunities for retail sales." Chatsworth, CA-based St. Ives and Melrose Park, IL-based Alberto-Culver announced the intent to merge Oct. 31. Alberto-Culver will acquire St. Ives for about $120 mil. ("The Rose Sheet" Nov. 6, p. 1).