In a bold step, Japanese cosmetics giant Shiseido Co. Ltd. has launched an estimated $1.7 billion tender offer to acquire Bare Escentuals Inc., one of the hottest brands of recent years.
Under the terms of the tender offer, which is scheduled to start in 10 days, Shiseido plans to buy shares for $18.20 each, a 40.8 percent premium over Bare Escentuals’ average stock price during the last three months, and a 39.9 percent premium over the closing price Wednesday. Once the majority of stock is tendered, Shiseido said it would buy the remaining shares for the same price, $18.20, in a second-step merger. The offer was made through Shiseido’s U.S. affiliate.
“I see things on the hanger and I’m, like, ‘I never knew that color worked on me.’ It’s things you necessarily wouldn’t choose to wear, but once you put them on, you see why Janie is who Janie is." — Lily Collins on working with former "Mad Men" costume designer, Janie Bryant on creating looks for her role as Celia Brady's in Amazon series, "The Last Tycoon." 📸@jilliansollazzo #wwdeye
EXCLUSIVE: Sarah Rutson has been tapped to Build New American Fashion Group. The parent of Joie, Equipment and Current/Elliott hired the merchant to rev up its brands and expand its portfolio into designer, beauty and lifestyle categories. Read more on WWD.com, link in bio. #wwdfashion
Michael Kors' $1.3B Jimmy Choo deal has the company squaring off with Coach Inc. as both seek to build American powerhouses. Coach bought Stuart Weitzman in 2015 and Kate Spade just two weeks ago, but Michael Kors' acquisition may be putting pressure on its rival in the new push for scale. #wwdnews (📷: George Chinsee)
Meet actress Lucy Boynton, who plays opposite Naomi Watts in the recently released Netflix series "Gypsy." Boynton stopped by WWD to talk about her upcoming projects and her nomadic lifestyle. Get all the details on WWD.com. #wwdeye (📷: @dandoperalski)