Alberto-Culver Beats Estimates (ACV)

Alberto-Culver Co. ACV reports Q4 earnings of $0.41 versus consensus of $0.40. Alberto-Culver Co. reports revenues of $431.9 million versus consensus of $429.51 million. Revenues increased 46.3% year over year. On September 27, 2010, the company entered into a definitive agreement with Unilever pursuant to which Unilever will acquire all of the outstanding shares of Alberto Culver for $37.50 per share in cash, valuing the company at approximately $3.7 billion. The transaction is structured as a merger and is subject to approval by owners holding a majority of Alberto Culver's outstanding common stock, regulatory approvals and other customary closing conditions. The merger agreement was unanimously approved by the Boards of Directors of both companies. Shares of ACV are lower in the after-hours by 0.11%.