Tags: Coty | Avon | offer | buy

Coty Makes $10 Billion Offer for Avon Products

Monday, 02 Apr 2012 07:51 AM

Beauty company Coty said on Monday it had offered to buy cosmetics direct seller Avon Products for $10 billion.

Coty, known for fragrances for such celebrities as Beyonc√© and Lady Gaga, said it has been “unsuccessful” in getting Avon to talk about its offer, but said it had no plans to make a hostile bid.

Coty was offering $23.25 per Avon share, or a 20 percent premium over Friday’s closing price of $19.36 on the New York Stock Exchange.

© 2017 Thomson/Reuters. All rights reserved.

 
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2012-51-02
Monday, 02 Apr 2012 07:51 AM
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