Japanese cosmetics maker Shiseido Co., a leading Japanese cosmetics company announced its $1.7 billion offer to purchase all outstanding shares of bourgeoning mineral make-up producers, Bare Escentuals.
The board of the San Francisco based Bare Escentuals Inc., has approved the deal, though the bulk of the company’s shareholders would be tendered as a condition of Shisheido offer.
The cosmetic company is presenting an offer of $18.20 per share in cash. This will mark the largest acquisition since its founding and it intended to expand their U.S. presence.
The tender deal, which is expected to expire on March 8, hinges upon whether Bare CEO Leslie Blodgett stays with the company.
In the hours following the announcement, shares of Bare Escentuals' slipped a penny to $18.11. At their highest point Bare was trading at $18.20, the agreed upon sum per share put forth by Shishedo.
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