L'Oreal/Nestle venture sweetens Q-med bid

STOCKHOLM Thu Feb 10, 2011 2:40am EST

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STOCKHOLM (Reuters) - The L'Oreal (OREP.PA) and Nestle (NESN.VX) joint venture Galderma said on Thursday it was raising its bid for Swedish beauty treatments firm Q-Med QMED.ST by about 5 percent.

Galderma raised its bid to 79 crowns per share, valuing the company at $1.16 billion. Earlier this week, Galderma said its 75 crown per share bid had fallen well short of a target for 90 acceptances.

Galderma said owners holding just under 78 percent of shares had agreed to accept the raised offer.

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