Shareholders Approve Deal

P&G shareholders approve Gillette deal

The Procter and Gamble Company is one step closer to becoming the world's largest consumer products company. P&G shareholders today approved a 57 billion dollar merger with Gillette.

Chief executive A.G. Lafley says 96-point-5 percent of the shareholder votes favored the merger. Gillette shareholders are meeting later today to find out how they have voted. The deal also has to be approved by various government regulators. Lafley says discussions with them seem to be going well, and the deal could be complete by early autumn.

It would be the largest acquisition in the 167-year history of Cincinnati-based Procter and Gamble.