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Thursday, June 26, 2014

LG Household no longer considering Elizabeth Arden buy, (NASDAQ: RDEN)

South Korea's LG Household & Health Care Ltd. is no longer considering acquiring U.S. cosmetics firm Elizabeth Arden Inc., the South Korean firm said on Thursday, adding that it wants to seek better opportunities. LG Household, which expressed interest in the potential acquisition in April, said in a regulatory filing it would continue to pursue mergers and acquisitions as part of its medium- to long-term strategy.

Elizabeth Arden, Inc. is a beauty products company with a range of portfolio of fragrance, skin care and cosmetics brands. Shares of RDEN fell by 1.5% or $-0.41/share to $27.00. In the past year, the shares have traded as low as $23.45 and as high as $47.99. On average, 471298 shares of RDEN exchange hands on a given day and today's volume is recorded at 215376.