Shiseido Co. Ltd. announced after the close Thursday that it entered into a definitive agreement to acquire Bare Escentuals Inc. (BARE) for approximately US$1.7 billion, through an all-cash tender offer and second-step merger.
Bare Escentuals gapped open sharply higher Friday, but traded in a narrow range throughout the session. Shares finished up by 5.33 at $18.07 on the highest volume of the year. The stock closed at a new high for the year.
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