MACANDREWS AND FORBES HOLDINGS BIDS FOR REVLON

  McAndrews and Forbes Holdings Inc said
  it will offer 18.50 dlrs per share for all of Revlon Group
  Inc's &lt;REV> outstanding common stock.
      McAndrews said terms of the acquisition have not been
  determined and are subject to the acquisition of financing.
      Revlon closed yesterday on the New York Stock Exchange at
  14-3/4.
      The company said it would bid for all stock it or its
  affiliates do not already own.
      McAndrews and Forbes said it informed the board of
  directors of Revlon that it expects to make a formal proposal
  in the near future. It also said there can be no assurance as
  to the terms of the proposals or that the deal can be
  concluded.
  

