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Renaissance Cosmetics to buy MEM for about $19 mil. under agreement in principle.

This article was originally published in The Rose Sheet

Executive Summary

RENAISSANCE COSMETICS TO PAY ROUGHLY $19 MIL. FOR MEM under an agreement in principle announced June 24 by Northvale, N.J.-based MEM. The agreement calls for the acquisition of MEM's 2.58 mil. outstanding shares by Renaissance for $7.50 a share. The company expects that the sale could be completed within 90 days.
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