Tags: Coty | Avon | offer | buy

Coty Makes $10 Billion Offer for Avon Products

Monday, 02 April 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 Beyoncé 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.

© 2018 Thomson/Reuters. All rights reserved.

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