Kao to buy Kanebo cosmetics
This article was originally published in The Rose Sheet
Executive Summary
Kao plans to acquire Kanebo's cosmetics business, reshuffling earlier plans for a merger between the two Japanese cosmetics companies, Kao announces Jan. 31. While both companies are "continuing to exert deliberative efforts toward reaching a definitive agreement," a final decision on the transfer of the business will require more time, Kao says. An announcement on details of the plan will be made once the definitive agreement is signed, the firm adds. News comes just days after Kao reported it was postponing finalization of a merger with Kanebo (1"The Rose Sheet" Feb. 2, 2004, p. 10)...
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