Frigitronics rejected a lower offer from Revlon.

The maker and retailer of eyeglass products said it will advise shareholders not to tender their shares to Revlon Group, which lowered its original tender offer by $6 a share to $29.50, claiming that Frigitronics’ financial performance had deteriorated. Ralph E. Crump, president of Frigitronics, expressed amazement at Revlon’s change of position. Crump said Revlon has agreed to sell Frigitronics’ intraocular lens business to Johnson & Johnson for $100 million if the buyout of Frigitronics succeeds. In a complaint filed last week in New York state court, a Frigitronics shareholders group alleged that the agreement forestalled a bidding contest for Frigitronics and allowed Revlon to reduce its price.