Pursuits
Revlon Soars After Billionaire Owner Vows to Explore Options
- No specific plan has been formulated for cosmetics maker
- Ron Perelman has controlled New York-based company since 1985
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Revlon Inc. shares rose the most in more than two years after billionaire Ron Perelman announced plans to explore options for the cosmetics maker, which he controls through his investment company.
Perelman’s firm, MacAndrews & Forbes, will consider “strategic alternatives” for the business, according to a statement Friday. The investor, which owns a 78 percent stake in Revlon, hasn’t formulated any specific or definitive plan or proposal.