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Perelman seeks Revlon facelift

Posted on April 21, 2009 9:25 AM
Financier Ronald Perelman has devised a $75 million deal to remove Revlon Inc.'s bedraggled Class A common shares from public circulation.

The New York cosmetics maker said Monday that MacAndrews & Forbes Holdings Inc., a Perelman-owned entity, proposed that the 20 million Class A Revlon shares Perelman doesn't control be converted into voting preferred stock worth $3.74 a share.

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