Unilever paying $3.7 bln for Alberto Culver

LONDON (AP) - Unilever PLC says it is paying $3.7 billion to buy Alberto Culver Co., makers of beauty products such as TRESemme, VO5 and Simple.

Unilever confirmed the deal Monday in an announcement to the London Stock Exchange.

Unilever chief executive Paul Polman says Alberto Culver will fit well with his company's current beauty range, which includes Dove, Sunsilk and Pond's.

Alberto Culver, based in Melrose Park, Illinois, has a market capitalization of about $3.1 billion based on Friday's closing stock price of $31.48.