Word: revlon
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...like Jell-O and Oreo or NyQuil and Clearasil, it can be worth millions of dollars. Companies that sell household products with well-known brand names have become the hottest targets in the latest round of merger wars. Last week two big packaged-goods firms--Richardson-Vicks and Revlon--escaped hostile takeovers, but only by rushing into the arms of other suitors...
...Revlon, the cosmetics giant, responded to a hostile takeover bid last week by putting on its war paint. The company's extra touch was a repellent that could be termed poison lipstick. Pantry Pride, a Fort Lauderdale-based supermarket chain, offered $1.8 billion for Revlon, or $47.50 per share. Declaring that the company was not for sale, Revlon's chairman, Michel Bergerac, and its board of directors adopted a variation on the so-called poison pill defense, in which the takeover target makes itself too financially painful to consume. In Revlon's case, the company would allow all shareholders except...
...been showing signs of old age during the 1980s. Profits fell from $192 million in 1980 to $112 million last year. But in spite of pale cosmetic revenues, the company has become a takeover candidate because of its booming health-care business. More than half of Revlon's sales now come from such unglamorous products as Tums antacids and Orafix dental adhesive...
...some new issues shot skyward last summer, a few skeptics wondered whether the market had lost its senses. Convergent Technologies President Michels roared with laughter when he was reminded that the market had priced the company's total shares at upwards of $1.25 billion, more than, say, Revlon He joked, "The stock market is a study in exaggerated responses. It is like thinking about the price of California real estate...
...Japanese already have McDonald's stands, Revlon cosmetics plants, Coca-Cola, American blue jeans and dubbed Hollywood westerns. So why not a Disneyland of their very own? No reason, of course, and this week they get it. After two years of construction, the biggest Disneyland of them all opens Friday on 202 acres of landfill in Tokyo...