The Chief Executive of Colgate-Palmolive, Ian Cook, is said to have indicated that he is prepared to sell the company for the right price, according to a report published by the New York Post.
Cook has reportedly placed an US$88 billion price tag on the oral care and personal care giant.
Rumors have swirled around a sale for the last few months, with several sources citing Unilever as a likely bidder to the extent that a shareholder questioned Cook at the AGM last Friday about the company’s likely response to any offer.
“We as a company build value for our share owners and all the constituents in our company,” said Cook. “And that is what we will focus on and let the rumors and speculation take care of itself.”