The battle is on to take over skincare firm L’Occitane. Blackstone is considering a bid. The company’s chairman may get involved even though he didn’t want to buy out the company last year. Other contenders may emerge. It’s enough to make your face break out.

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L’Occitane shares surge on report Blackstone is considering a bid

L’Occitane surged in Hong Kong trading after a report that Blackstone is considering a bid for the skincare firm.

Bloomberg reported that the private equity giant has been doing preliminary due diligence while evaluating a potential buyout, and is considering teaming up with L’Occitane’s billionaire chairman Reinold Geiger for the takeover. Shares rose as much as 15%, close to a two-year high.

Geiger had previously decided against taking L’Occitane private through his investing holding company, L'Occitane Groupe. But the new deal is far from done. It’s still at an early stage and there’s no guarantee a bid will materialize. The company could also attract interest from other suitors.

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