Deals
Oriflame Gets $1.3 Billion Offer From the Jochnick Family
- Shares open 35% higher in Stockholm, matching offer premium
- Family wants to take Oriflame private for a ‘re-positioning’
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Oriflame, a Swedish cosmetics company that does much of its business in developing markets, has received an offer valuing it at $1.3 billion from the Jochnick family that founded it back in the 1960s.
By proposing a 35% premium over Tuesday’s closing price, the family is hoping to build on the roughly 30% stake it already has in Oriflame and take the company private. The goal is to push through a “re-positioning” that the Jochnicks argue is better done away from the glare of the stock market.