Yellow Wood reportedly close to acquiring ChapStick
Driving the news: If a deal is struck, it would be Yellow Wood's third pickup of a corporate beauty division in the last year.
Catch up fast: Haleon — the former consumer health division of drug company GlaxoSmithKline — launched an auction for Chapstick early last year, hoping to fetch about $600 million for the business.
Yes, but: Yellow Wood's offer came in lower than what Haleon was seeking, Reuters reports, citing sources familiar.
What's next: Per Reuters, both sides are close to a compromise on valuation, which could see a deal inked in the next few days if successful.
Haleon and Yellow Wood did not respond to a request for comment.