	revlon rev and macandrews and forbes to merge macandrews and forbes group and revlon group inc rev said that they have entered into a definitive mergewr agreement where macandrews will uire revlon at dlrs per common share in cash macandrews said it increased its offer to purchase all revlon common shares to dlrs a share from its april offer of dlrs a share following consummation of the offer a unit of macandrews will merge into revlon and each remaining share will be converted into the right to receive dlrs per share in cash the companies said revlon said its board of directors unanimously approved the merger agreement macandrews and revlon also said they have reached a settlement with the plaintiff in the pending litigation challenging uisition of the shares by macanrews the companies said the tender offer and withdrawal rights will expireon tuesday april unless extended macandrews said it will promptly file revised tender offer material with the securities and exchange commission drexel burnham lambert inc is acting as dealer manager for the offer the companies said revlon currently has about mln shares outstanding the current offer price is about mln dlrs a company spokesman said up from the previous offer of mln dlrs on april macandrews and forbes owned by ronald perelman offered dlrs a share for the pct of revlon shares he did not already own since the offer was made over a dozen shareholder lawsuits were brought against revlon alleging the original offer was too low but the companies said these lawsuits have been settled in the amended offer reuter 
