PARIS, France — French Prime Minister Edouard Philippe mentioned any takeover of cosmetics maker L’Oréal SA can be watched rigorously by the federal government although the corporate is not essentially a strategic asset.
“I’d be clearly very cautious,” Philippe mentioned when requested about the potential for a international takeover on France 2 tv.
L’Oréal SA shares rose final week on hypothesis that the demise of the founding household’s heiress, Liliane Bettencourt, may clear up the cosmetics maker’s possession via a takeover or a buyback.
Bettencourt’s demise raises questions concerning the stake Nestle SA has held within the French firm for greater than 4 many years. Her passing makes it extra doubtless that the Swiss meals big will sometime promote that 23 p.c holding, value about $28 billion, to L’Oréal, based on analysts. One other risk is that L’Oréal attracts a takeover bid.
By Mark Deen and Geraldine Amiel; editor: Alan Crawford.
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