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L'Oréal loosens ties with Nestlé via share buyback
PARIS and LAUSANNE, Switzerland — French beauty brand L’Oréal is buying back 8% of its shares from Nestlé, loosening their long-standing alliance, the companies have announced.
L’Oréal will buy 48.5 million of its own shares. Following the transaction, Nestlé’s stake in L’Oréal will be reduced from 29.4% to 23.29% of the share capital and the Bettencourt Meyers family’s stake in L’Oréal will increase from 30.6% to 33.31%.
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Elmer's introduces new adhesive
COLUMBUS, OH — Elmer's Products, a supplier of adhesives, has introduced Elmer’s ProBond Advanced, a multi-service adhesive designed for mixed-material projects, to its line of products. The product provides the strength of polyurethane glue without the foam residue that could potentially ruin a project's finished appearance, the company said.