L'Oreal May Bid for Body Shop

L’Oreal may make a cash offer for Body Shop International Plc, according to a report by Reuters. This announcement reportedly sent shares in the British beauty retailer up 11 percent. "L'Oreal's management is continually evaluating a wide range of strategic alternatives that may add value to its shareholders including a possible offer for Body Shop," L'Oreal said in a statement to the London Stock Exchange, according to the report.