L'Oreal-Maybelline Tie OK'd
as received U.S. regulatory approval to acquire Maybelline Inc., a move that could put the company just behind Procter & Gamble, Cincinnati, in the mass cosmetics market.
This month, the Justice Department gave L'Oreal antitrust clearance to acquire Memphis, Tenn.-based Maybelline. The deal reportedly would make L'Oreal the second largest mass market cosmetics firm. Currently, Procter & Gamble, Cincinnati, is No. 1, and Revlon, New York