COSMETICS retailer Body Shop yesterday agreed to a £652.3m takeover by L'Oreal.
Body Shop accepted an offer of 300p a share from the French firm - a large premium on its closing price of 268p.
It is expected that Anita and Gordon Roddick, who set up Body Shop 30 years ago, will make £130m from the sale.
L'Oreal, which makes Ambre Solaire suncream and Lancome lipsticks, said the Body Shop brand would be retained and the company would continue to be based in and run independently from the UK.
The French firm said Body Shop would enhance its business because of its "sizeable and complimentary brand" in 54 countries, with revenues of £419m last year.
In a statement to the stock market yesterday, the two companies said the proposed takeover depended on regulatory clearance.
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