Deals
Revlon Seeks to Revive Cosmetics Clout With Arden Deal
- Purchaser to pay 50% premium for maker of celebrity perfumes
- Deal follows speculation that Revlon would be target itself
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Revlon Inc. will acquire Elizabeth Arden Inc. for about $419 million, a wager that uniting two aging cosmetics giants can reinvigorate both companies’ brands.
The $14-a-share deal values Elizabeth Arden at about $870 million when debt is included, New York-based Revlon said on Thursday. The cash transaction represents a 50 percent premium over Elizabeth Arden’s closing price of $9.31.