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Revlon Offers to Buy Gillette

November 14, 1986|Associated Press

NEW YORK — Revlon Group Inc. launched a bid today to acquire Gillette Co., offering $65 per share of Gillette's stock in a deal worth more than $4 billion.

At its Boston headquarters, Gillette issued a statement saying its board was considering the offer and asked that its stockholders refrain from acting on the bid until the board issued its recommendation. Gillette was the most actively traded issue on the New York Stock Exchange on Thursday, closing at $57.75 share, down 50 cents from Wednesday. More than 6 million shares changed hands.

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