RepublicBank dropped out of the Mary Kay deal.
RepublicBank Dallas has dropped plans to help finance a proposed $404-million leveraged buy-out of Mary Kay Cosmetics, company officials said, adding that the action should not jeopardize funding for the transaction. An investor group headed by company founder Mary Kay Ash and her son, Richard Rogers, plans to take the firm private after nearly 20 years as a publicly traded company. The bank’s action apparently affected the company’s stock, with Mary Kay shares falling $1.875 on Tuesday and 87.5 cents on Wednesday to close at $10.75 on the New York Stock Exchange.
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