Marico also in fray to acquire Fem Care

MUMBAI: FMCG company, Marico Industries is also in the fray to acquire Fem Care.

City-based Marico is competing with Dabur India, which is also looking to acquire Fem Care to beef up its consumer care portfolio.

It is understood that Fem Care has appointed E&Y as the investment banker to look for possible buyers.

Senior officials at Marico, however, refused to confirm the news. ���We cannot comment on anything since this is the silent period,��� a senior official said.

Sources in the know indicated that Marico is indeed looking closely at Fem Care. ���The valuations of Fem have become attractive given the recent bear market.���

On BSE, Marico stock is currently at Rs 48, down 4.38 per cent from the previous close.