LG Household & Healthcare Considers Bid For Elizabeth Arden : Reports

(RTTNews) - LG Household & Health Care Ltd., a South Korean cosmetics and beverages company, is considering a bid for U.S. cosmetics company Elizabeth Arden Inc. (RDEN), according to several reports.

LG Household & Healthcare reportedly said it has identified Elizabeth Arden as a potential takeover target and that it would update the market in a month on the progress of any potential deal.

If the bid is successful, it will help Korea's cosmetics company to take a leap toward a global player.

Elizabeth Arden has a market capitalization of about $944 million.

In addition to cosmetics, Elizabeth Arden makes high-end antiaging skin-care products and fragrances.

The reports indicated LG Household would become a global luxury beauty company with the Elizabeth Arden deal, which may be valued at more than 1 trillion won or $963 million including goodwill.