Procter & Gamble to split off its Duracell business, beginning its big overhaul

Markets Associated Press

Procter & Gamble is removing the batteries and making Duracell a stand-alone company.

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P&G, which acquired Duracell in 2005, announced earlier this year that it would shed more than half its brands around the globe over the next year or two.

If a split off occurs, P&G said that its shareholders would have the option of exchanging some, none or all of their P&G shares for shares of the newly formed Duracell company.

The Procter & Gamble Co., based in Cincinnati, said Friday that it is also considering a spinoff, sale or other options for Duracell.

Shares of P&G climbed slightly in Friday premarket trading.