Wasserstein Perella to Buy Maybelline: Schering-Plough Corp....

Wasserstein Perella to Buy Maybelline: Schering-Plough Corp. has agreed to sell its Maybelline cosmetics business for $300 million to an affiliate of the buyout specialists Wasserstein Perella, the companies said. At the same time, the pharmaceutical giant said it had terminated an earlier agreement to sell Maybelline for the same price to a group made up of Playtex Family Products Corp. and executives from Playtex and Maybelline. Wasserstein executives characterized the acquisition as a long-term investment.