Deal combines two iconic brands
Revlon, Inc. and Elizabeth Arden, Inc. have announced that they have signed a definitive agreement under which Revlon will acquire all of the outstanding shares of Elizabeth Arden for $14.00 per share in cash, valued at approximately $870 million. Under the terms of the agreement, Revlon will acquire all of the outstanding shares of Elizabeth Arden for $14.00 per share in cash, which represents a 50% premium over Elizabeth Arden’s closing share price of $9.31 on June 16, 2016. The transaction, including repayment of Elizabeth Arden debt and preferred stock, implies an enterprise value for Elizabeth Arden of approximately $870 million.
Milbank, Tweed, Hadley & McCloy LLP represents Revlon in the transaction with a corporate team led by Corporate partners David Zeltner and Scott Golenbock and Litigation partner Scott Edelman.
