PROCTER & GAMBLE CO. $89 - New York symbol PG

PROCTER & GAMBLE CO. $89 (New York symbol PG; Conservative Growth Portfolio, Consumer sector; Shares outstanding: 2.7 billion; Market cap: $240.3 billion; Price-to-sales ratio: 3.1; Dividend yield: 2.8%; TSINetwork Rating: Above Average; www.pg.com) aims to sell its Germany-based Wella hair care operation, which makes shampoos, dyes and styling products.

The company would probably receive $7 billion for Wella, roughly what it paid for it in 2003.

This sale is part of Procter’s plan to sell about 100 less-profitable brands. That will leave it with around 80 that together account for 90% of its sales and 95% of its profits. This tighter focus will also cut Procter’s manufacturing and distribution costs

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