Revlon Is Taken Off the Block, and Shares Plunge
Ronald O Perelman is taking Revlon Inc off the market and instead will try to sell two units of ailing cosmetic giant to raise much-needed cash; news is defeat for Perelman, who publicly put company up for sale in April; Revlon says it expects sale of Latin American brands and salon-style hair products units to generate at least $500 million and to be completed by March 31; Revlon's stock drops 34 percent, or $6.25, to $12, its 52-week low; graph; photo (M)
