S&P keeps Alberto-Culver on watch

Standard & Poor's said that the BBB corporate credit rating on Alberto-Culver Co. remains on CreditWatch with positive implications, where it was placed on Sept. 27, 2010.

The rating action follows the company's announcement that it has entered into a definitive agreement in which the Unilever Group will acquire all the outstanding shares of Alberto-Culver for $37.50 per share in cash, S&P said.

The transaction is valued at about $3.7 billion and will be structured as a merger, the agency said.

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