Unilever ready to pounce on Wella

Food and household products group Unilever is expected to spark a three-way bidding war for Wella, the €4.4bn German cosmetics and hair care company.

The UK group is ready to pounce on Wella in an effort to beat United States cosmetics giant Procter and Gamble, which is close to making a bid, and Henkel, the German rival which revealed a stake last week.