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Revlon Agrees To Buy Elizabeth Arden

June 17, 2016: 12:00 AM EST
Revlon Inc. agreed to acquire beauty brand Elizabeth Arden for $870 million. Expected to provide $140 million in cost synergies, the merger deal comes with $2.6 billion in financing. Also, the deal has prompted Moody's Investors Service to review Elizabeth Arden's credit rating for a possible upgrade and Revlon's for a likely downgrade. Revlon, which has about $1.83 billion in debt, will use the financing to pay for the purchase deal, as well as renegotiate its bank term loan and revolving credit facility.
Allison Collins et al, "The Revlon-Arden Marriage: A Problem Solver for Both?", Women’s Wear Daily, June 17, 2016, © Fairchild Fashion Media
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