Bid to take Revlon private

NEW YORK (AP) Revlon Group Inc.'s dominant stockholder launcheda bid yesterday to take the cosmetics giant private in a deal valuedat $721.5 million.

The $18.50-a-share tender offer begun by MacAndrews & ForbesHoldings Inc. was not a surprise. The private holding company led byRevlon Chairman Ronald O. Perelman said a month ago it might make anoffer at that price.

Revlon's common stock rose 37 1/2 cents a share to $19.25 - or75 cents higher than MacAndrews & Forbes' proposal - in activetrading on the New York Stock Exchange.

MacAndrews & Forbes already controls about 16.2 million, or 29percent, of Revlon's …