Revlon filed for bankruptcy earlier this week.
stock soared more than 53% in premarket trading Friday after a report said Indian conglomerate
(RIL.India) is considering buying the cosmetics maker after it filed for bankruptcy.
The news was reported by Business channel ET Now, which cited unidentified sources.
Shares in Revlon, which have plunged more than 82% since January, surged 53.33% ahead of the market open to $2.98.
didn’t immediately respond to requests for comment. ET Now tweeted that Reliance said that it doesn’t comment on market speculation.
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