Revlon Inc. has tapped financial advisers from Goldman Sachs Group Inc. to help explore strategic alternatives for the company, including a sale, Bloomberg News reported Aug. 15, citing a person with knowledge of the matter.
The U.S. beauty products maker is reportedly looking at all options such as selling part or all of the business. No agreements have been reached, the report said, but the company is "reviewing all strategies."
A Goldman Sachs representative confirmed to Bloomberg that the bank has been hired by Revlon, but declined to provide more details.
Revlon did not immediately respond to S&P Global Market Intelligence's request for comment.
The company's stock rose as much as 16.69% to $16.99 following the news before closing up at $15.36.