Procter & Gamble Co. reported weak sales growth in its latest quarter as the company continues to face challenges in its Gillette shaving business and struggles to raise prices on its well-known brands.
The company’s third-quarter report comes the same day it announced the purchase of Merck KGaA’s consumer-health business in a $4.2 billion deal that combines vitamins and food supplements with P&G’s group of over-the-counter medicines like Vick’s and Pepto Bismol.
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