BERLIN — Procter & Gamble failed to significantly increase its stake in Wella at the close Wednesday of its improved tender offer for Wella preferred shares.

Shareholder dissatisfaction with the upgraded $76.70 price offered for Wella preferred shares (from the original offer of $72.57) and two hedge fund suits challenging the bid put a dent in P&G’s efforts to buy up outstanding Wella shares. All dollar figures are calculated from the euro at current exchange rates.

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