MACANDREWS/FORBES BEGINS REVLON <REV> OFFER
MacAndrews and Forbes Group Inc said it
began an 18.50-dlr-a-share cash offer for all common stock of
Revlon Group Inc it does not already own.
    The offer, which is being made by a wholly owned
subsidiary, Revmac Acquisition Corp, is subject to financing
and at least 28.5 mln shares being tendered, the company said.
    MacAndrews and Forbes, wholly owned by Ronald Perelman,
chairman of Revlon Group, held about 31.8 pct of the voting
power of Revlon as of March 27, a spokesman said. The stake
includes about 15.1 pct of Revlon common and 95 pct of its
series A preferred stock, he said.
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