L’Oréal/Body Shop
This article was originally published in The Rose Sheet
Executive Summary
French beauty company has purchased 22,800,000 ordinary shares in The Body Shop International PLC, giving L'Oréal a majority stake in UK-based retail chain, firm announces March 23. "These shares, together with the shares that are the subject of the irrevocable undertakings and the call option detailed" in the company's March 17 announcement of The Body Shop acquisition, "will result in L'Oréal holding approximately 53.1% of the existing issued share capital," firm says. L'Oréal is acquiring The Body Shop for $1.15 bil. in cash (1"The Rose Sheet" March 20, 2006, p. 3)...