cosmetics

Revlon to buy Elizabeth Arden for $870 million

Revlon to buy Elizabeth Arden for $870 million

NEW YORK — Revlon Inc. is acquiring Elizabeth Arden Inc. in a deal valued at approximately $870 million. Revlon said that under the agreement, announced late Thursday, it will acquire all of the outstanding shares of Elizabeth Arden for $14 per share in cash, , which represents a 50% premium over Elizabeth Arden’s closing share