Market Overview

Elizabeth Arden Evaluating Partial Tender Offer By Rhone Capital

Related RDEN
Elizabeth Arden Beats EPS Estimates, Reports Increasing Global Sales
Earnings Scheduled For August 10, 2016

Shares of Elizabeth Arden (NASDAQ: RDEN) spiked sharply higherbefore falling back, on news that Rhone Capital has submitted a partial tender offer to acquire up to 6,442,013 shares of the outstanding common stock of the company for 17.00 per share cash.

This follows a previous announcement by Rhone Capital to increase their investment in Elizabeth Arden after a purchase of 50,000 shares of the preferred stock and warrants with as strike price of $20.39 per share, constituting approximately 7.6 percent of the outstanding common stock of Elizabeth Arden.

Initially following Wednesday's announcement, shares moved 6.2 percent higher from $17.50 to $18.60.

Share were last trading at $18.32, up 5.8 percent.

Posted-In: Rhone CapitalNews Offerings Movers


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