Brands including Giorgio Beverly Hills and celebrity fragrances from the likes of Taylor Swift and Justin Bieber will be added to its portfolio’s foundation, according to USA Today.
Revlon plans to pay $14 a share, about 50% more than Arden’s current value, to expand its own global reach and skin-care line.
In other M&A news, cloud services company Joylent is to be bought by South Korean electronics giant Samsung.
San Francisco-based Joylent will operate as an independent sUBSidiary of Samsung.
Joylent will be in a better position to take on the main players in the cloud services industry - giants Amazon Web Services and Microsoft Azure - which control 30% and 10% of the cloud market respectively.
Elsewhere, the news outlet reported Viacom (NASDAQ:VIAB) is in line for a shake-up after National Amusements Inc’s billionaire controller Sumner Redstone said Thursday it has filed legal documents to replace five directors of Viacom's board.
The media mogul is looking to oust board members, including chairman and CEO Philippe Dauman.
The other Viacom directors who would be removed are lead independent director Frederic Salerno, George Abrams, Blythe McGarvie and William Schwartz.
Microsoft acquired the professional social network site for US$26.2bn on Monday, and while Salesforce.com’s offer price isn’t known, Brent Thill, an analyst at UBS Group, said purchasing LinkedIn would have been a stretch for the company.
In other news involving Microsoft, the company is breaking the corporate taboo on marijuana by announcing a partnership to begin offering software that tracks marijuana plants from “seed to sale”, according to the New York Times.
The software — a new product in Microsoft’s cloud computing business — is meant to help states that have legalized the medical or recreational use of marijuana keep tabs on sales and commerce.