SEATTLE- Procter & Gamble Co is nearing the purchase of Sara Lee Corp's air care unit for about $700 million, CNBC said on Tuesday, citing a Wall Street Journal report.
A P&G representative was not immediately available for comment. A Sara Lee spokesman said the company does not comment on speculation or rumors.
Although P&G has been quiet about potential deals, sources previously told Reuters the company has looked at Sara Lee's European air freshener business, but does not want other parts of the household products unit. [ID:nN20220900] (Reporting by Aarthi Sivaraman; editing by Andre Grenon and Carol Bishopric)