Why Revlon Stock Almost Doubled on Friday

Is Revlon (NYSE: REV) in play?

Many investors are sure convinced it is, as evidenced by the stock's outsize 91% price gain on Friday. It was little wonder, though: A credible media outlet said a global conglomerate is interested in acquiring the storied cosmetics company.

On Friday, ET Now, a financial news show in India, broke the story that, according to unidentified sources, the country's sprawling conglomerate Reliance Industries is interested in bidding for Revlon.

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Source Fool.com