Shiseido completes acquisition of Bare Escentuals
Shiseido has completed the acquisition of Bare Escentuals following the end of its subsequent offering period on March 11.
Withdrawal rights for the merger deal expired at midnight on March 8, New York time, which meant that just over 80 million shares in Bare Escentuals were transferred over through Shisiedo’s wholly-owned subsidiary, Blush Acquisition Corporation.
This deadline was extended by a further three days, which meant the amount of shares transferred edged up slightly from the initial deadline, from 86.9 percent of the outstanding common stock to 91.7 percent.
Each share was priced at $18.20 each, which puts the final value of the deal in excess of $1.7bn.
