P&G Merger Reviewed

European Union reviewing P&G merger

The European Union has set a preliminary deadline for reviewing that 57 billion dollar merger between the Procter and Gamble Company and Gillette.

European Union regulators have to give antitrust approval before the deal can be carried out in its markets. The EU's head office in Belgium today set a preliminary deadline of July first for completing its review. Other companies now can file complaints about the merger.

The two companies hope to get regulatory clearance in both the United States and the European Union, as well as shareholder approval, before this fall.