The L'Oreal and Nestle joint venture which has bid $970 million for Swedish beauty treatments firm Q-Med said on Tuesday it got acceptances from just over 50 percent of shareholders.

Q-Med's head office

The Galderma venture said in a statement that it got 53.88 percent acceptances for the 75 crowns a share offer.

This meant the firm has not reached the level of 90 percent acceptances which it had set.

It said it would make a further statement at the latest on February 10 at 9 a.m. (0800 GMT) about its course of action.

Buying Q-Med would give Galderma access to the Swedish firm's Restylane product, which can be used as an alternative to Botox for smoothing out wrinkles and making faces look plumper and younger.

The bid fell short after three Swedish pension funds on Friday said they would not accept the offer.

A spokesman for Galderma said last week that the firm had several options available to it.

He also noted that Galderma has launched its own anti-wrinkle cream, called Emervel.

(Reporting by Patrick Lannin)