Breaking News

Shiseido Commences Tender Offer for Bare Escentuals

January 25, 2010

One step closer in major cosmetics deal.

Shiseido Co., Ltd. announced today the commencement of a tender offer through its wholly-owned subsidiary, Blush Acquisition Corporation, a special purpose acquisition company established under Shiseido Americas Corporation, for all outstanding shares of common stock of Bare Escentuals, Inc. The offer is for $18.20 per share, net to the seller in cash, without interest and less any required withholding taxes.

The tender offer is being made pursuant to an Offer to Purchase, dated Jan. 25, 2010, and in connection with the previously announced Agreement and Plan of Merger, dated Jan. 15, 2010, among Shiseido, Blush Acquisition Corporation and Bare Escentuals.

The tender offer is conditioned on the tender of a majority of the outstanding shares of Bare Escentuals common stock on a fully-diluted basis, the continued employment of Leslie Blodgett, the chief executive officer of Bare Escentuals, as well as the receipt of certain regulatory approvals and other customary closing conditions.

Following successful completion of the tender offer, Blodgett and her affiliates will contribute certain of their Shares in exchange for a continuing 2.43% indirect ownership interest in the Company and a cash distribution. Shiseido intends to acquire the remaining outstanding shares of Bare Escentuals common stock for $18.20 per share through a second-step merger.

As previously reported, Bare Escentuals Board of Directors has approved the transaction by unanimous vote of those directors present and voting.

blog comments powered by Disqus
  • Free and Clear

    Free and Clear

    Melissa Meisel, Associate Editor||October 17, 2016
    OY-L aims for zero-chemical skin care.

  • Coming Clean on a Host of Issues

    October 17, 2016
    Cleaning Products Conference is set for Nov. 9-11, 2016 in Washington DC.

  • Let the Magic Begin!

    Let the Magic Begin!

    Tom Branna, Editorial Director||October 10, 2016
    IFSCC Congress gets underway at Walt Disney World this month.

  • Change Is in the Air

    Change Is in the Air

    Doreen Wang, BrandZ ||October 3, 2016
    Technology is changing the personal care market

  • Skin Care of One’s Own

    Skin Care of One’s Own

    Christine Esposito, Associate Editor||October 3, 2016
    Nu Skin’s ageLOC Me—which melds the worlds of smart-phone technology, efficacious ingredients and personalization

  • Proof Positive

    Proof Positive

    Christine Esposito, Associate Editor||October 3, 2016
    Testing service providers enable companies to back up their claims and stay in compliance with regulations.