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MacAndrews & Forbes will acquire Revlon Group.

BRIEFLY

April 14, 1987

The cosmetics giant will be taken private by its dominant stockholder, MacAndrews & Forbes Holdings Inc., in a sweetened cash deal worth $20.10 a share, or $783 million, both companies announced. The agreement came less than two weeks after MacAndrews & Forbes began a bid to acquire the rest of the cosmetics company for $18.50 a share, or $721.5 million. In announcing their agreement, Revlon and MacAndrews & Forbes also said they had reached a settlement with plaintiffs in lawsuits challenging MacAndrews & Forbes' acquisition of the Revlon shares it does not already own.

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