L’Oréal/Body Shop deal
This article was originally published in The Rose Sheet
Executive Summary
French company's offer to The Body Shop shareholders has been extended to May 31, firm announces May 4. As of May 3, the original closing date of the offer, company had received acceptances amounting to 172,793,857 shares, representing 79.44% of Body Shop existing issued ordinary shares. L'Oréal now holds 195,593,857 shares, or 89.92% of existing issued ordinary shares, when including the 22,800,000 shares already acquired (1"The Rose Sheet" March 27, 2006, In Brief). L'Oréal announced its proposed $1.15 bil. purchase of British retailer in March (2"The Rose Sheet" March 20, 2006, p. 3)...