Exhibit (a)(1)(O)
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FOR IMMEDIATE RELEASE CONTACT: Ellen Beth Van Buskirk
L'OREAL USA, INC.
(212) 984-4528
www.lorealusa.com
L'OREAL USA COMPLETES CARSON TENDER OFFER
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NEW YORK (August 1, 2000) - Guy Peyrelongue, president and CEO of L'Oreal USA,
Inc., announced today that L'Oreal USA, formerly known as Cosmair, Inc., has
completed its cash tender offer for all outstanding Class A Common Stock of
Carson, Inc. at $5.20 net per share.
"L'Oreal USA's main interest here in the United States was to acquire Carson's
Dark & Lovely franchise, the men's shaving line Magic Shave and the Dermablend
business," said Peyrelongue. "Additionally, on an international basis, the
Carson business in South Africa provides a platform for the L'Oreal Group to
expand its ethnic business throughout Africa."
L'Oreal USA completed its tender offer after reaching an agreement with the
Department of Justice. The agreement calls for L'Oreal USA to divest, after
completion of the tender offer, Carson's Gentle Treatment and Ultra Sheen
Supreme relaxer brands (together with the related maintenance products) and the
Johnson Products name.
L'Oreal USA accepted for payment 14,559,481 shares of Carson Class A common
stock validly tendered prior to the expiration of the tender offer, including
331,030 shares tendered by means of guaranteed delivery. Through the tender
offer, L'Oreal USA acquired approximately 95.7 percent of Carson's outstanding
common stock.
L'Oreal USA intends to complete the second-step merger at $5.20 net per share as
soon as possible, at which time Carson will become a wholly owned subsidiary of
L'Oreal USA.
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