Revance Therapeutics Inc (RVNC)

[stockbettor]

Seems unlikely, but there is an active auction of Nestle's skin care unit in progress, with a number of P/E firms as bidders. Nestle announced in September that the skin care unit was undergoing a strategic review. Since then, Nestle been soliciting bids and is now into round 2. Nestle's preference is to sell the entire unit, but it is open to selling it in pieces if that will result in a higher overall price. Daxi would make a nice add-on -- perhaps ultimately become the crown jewel -- for a P/E firm buyer.

https://www.nestle.com/media/pressreleases/allpressreleases/nestle-explores-strategic-options-nestle-skin-health

https://www.nytimes.com/2018/11/06/business/dealbook/nestle-skin-care.html

https://www.reuters.com/article/us-nestle-m-a-skin-health/suitors-lining-up-to-buy-nestle-skin-health-ceo-idUSKCN1Q3277

https://www.pehub.com/2019/03/private-equity-interested-in-sale-of-nestles-skin-health-financial-times/#

https://www.bloomberg.com/news/articles/2019-03-12/nestle-is-said-to-pick-advent-kkr-eqt-for-skin-health-unit-bid

And the latest (from Bloomberg dated 3/28/2019 -- no link): Colgate Is Said to Join Bidding for Nestle Skin-Health Business Ruth David Bloomberg News Manuel Baigorri Bloomberg News Sarah Syed Bloomberg News

Colgate-Palmolive Co. is among bidders for the consumer arm of Nestle SA’s skin-health business, people familiar with the matter said, joining an auction process that’s been dominated by private equity firms. Colgate and Unilever NV are both bidding for the consumer-focused part of Nestle’s business, which includes brands such as Cetaphil moisturizers and cleansers and the Proactiv acne treatment, the people said, asking not to be identified as the details aren’t public.

No final decisions have been made and Nestle hasn’t decided whether to sell the medical and consumer businesses separately or as a whole, they said. While Colgate and Unilever are only interested in the consumer business, they may consider partnering with a private equity firm to bid for the entire business, two of the people said. A consortium that includes Advent International, Cinven and GIC Pte, as well as KKR & Co., EQT Partners and Carlyle Group LP, were among firms brought through to the auction’s second round, people familiar said earlier this month.

The entire skin-care business may fetch $8 billion to $10 billion, and Nestle would prefer to sell the unit as a whole, they said. The remaining operations within skin health include prescription treatments that fill wrinkles and treat acne and other conditions. Many of the private equity bidders are making offers for the entire unit, the people said. Representatives for Colgate, Nestle, Unilever and L’Oreal declined to comment.