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The beauty company is bidding for this Chinese company.
August 19, 2013
By: Jamie Matusow
Editor-in-Chief
L’Oreal is offering to buy the Chinese cosmetic company, Magic Holdings International Ltd. – for $843 million, which is HK$6.54 billion. L’Oreal has proposed to pay HK$6.30 per share, in cash. This represents a 25 percent premium over Magic’s last closing price. Magic is the industry leader for facial masks in China, with a 26.4 percent market share in 2012.
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