APPAREL & COSMETICS

German Company Bids on Maybelline: Maybelline Inc. said that cosmetics and detergent maker Joh A. Benckiser had offered $37 cash a share--just topping a rival takeover bid from France’s L’Oreal. Benckiser, in a letter released by Maybelline, also said it is prepared to increase that offer to an amount “materially higher” under certain conditions. Memphis, Tenn.-based Maybelline, one of America’s leading cosmetics makers, agreed in December to a $660-million takeover by L’Oreal. The price, equal to $36.75 a share, would include the assumption of about $150 million in debt. Maybelline did not say whether it would consider the Benckiser offer. Maybelline was unchanged at $39.50 on the New York Stock Exchange.