Cosmetics giant L'Oreal offers $843mn for Chinese firm

HONG KONG French cosmetics maker L’Oreal has offered to buy Chinese skincare firm Magic Holdings International for $843million (H$6.5billion; 539milllion pounds; 630 million euros) in cash. Shares of Hong Kong listed Magic surged 21% when trading resumed on Friday. World’s biggest cosmetics maker L’Oreal, which has brands such as Garnier and Lancome under it, said it would offer HK$6.3 per …

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