Revlon To Acquire Elizabeth Arden For $14.00 Per Share In All : Deal has enterprise value for elizabeth arden of approximately $870 million. . BofA Merrill lynch and citigroup global markets inc. Have committed approximately $2.6 billion of financing to fund acquisition . Revlon inc says transaction has been unanimously approved by both revlon's and elizabeth arden's boards of directors . Cost synergies of approximately $140 million are expected to be achieved through deal . Revlon inc says for 2016, on a standalone constant currency basis, revlon expects to generate net sales between $2.0 billion and $2.1 billion . Scott beattie is expected to join revlon's board of directors as non-executive vice chairman . Revlon inc says for 12 months ending december 31, 2016, combined company would be expected to have annualized net sales of approximately $3 billion . $420 million on a standalone constant currency basis . Revlon inc says moelis & company served as lead financial advisor to revlon . Transaction includes repayment of elizabeth arden debt and preferred stock . Assuming full realization of about $140 million of expected multi-year synergiescost reductions, adjusted ebitda for combined co would be about $560 million .Cash transaction.
Revlon Inc : Revlon reports first quarter 2016 results . Q1 sales $439.6 mln . Q1 adjusted shr $0.25 . Q1 shr $0.21 .U.S. consumer net sales decreased slightly by 0.5 pct in Q1.