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Revlon To Acquire Rival Elizabeth Arden Paying $14 a Share

Revlon announced plans to acquire Elizabeth Arden in an all-cash deal after Thursday's market close.

Revlon (REV) - Get Revlon, Inc. Class A Report announced plans to acquire Elizabeth Arden in an all-cash deal after Thursday's market close. Revlon will be acquiring all of Elizabeth Arden's (RDEN) outstanding shares for $14 a share, which represents a 50% premium to Thursday's closing price of $9.31. The combined companies are expected to realized $140 million in cost synergies from eliminating redundancies, and optimizing manufacturing and distribution networks. Revlon says it plans to further enhance Elizabeth Arden's brand while maintaining its prestige heritage.

This article was written by a staff member of TheStreet.

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