LG Household & Healthcare Ltd said on Wednesday it is considering a bid for U.S.-based cosmetics company Elizabeth Arden, a move that would boost the South Korean firm's line-up in perfume and add a luxury brand.Elizabeth Arden, which has a market value of $845 million, has like other cosmetics firms been hit by a broad slowdown in the North American beauty market that has hurt earnings.Shares in LG Household, the No. 2 South Korean firm in the domestic market with brands Whoo and O Hui, climbed 3 percent on the news of the potential bid.LG Household has expanded its overseas operations in recent years through acquisitions in China and Japan and has said it would consider additional acquisitions to boost its existing operations.
Elizabeth Arden, Inc. is a beauty products company with a range of portfolio of fragrance, skin care and cosmetics brands. Shares of RDEN traded higher by 1.25% or $0.35/share to $28.44. In the past year, the shares have traded as low as $23.45 and as high as $49.47. On average, 306719 shares of RDEN exchange hands on a given day and today's volume is recorded at 338994.
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