Reuters: Global Markets: Coty bids $10 billion for Avon

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Coty bids $10 billion for Avon Apr 2nd 2012, 11:50 Tweet Share this Email Print Related News Avon Ladies see need for complete company makeover Fri, Mar 16 2012 Related Topics Deals » Global Deals Review: 2011 Q3 » Global Deals Review: 2011 Q2 » Global Deals Review » Hot Stocks » Asian Markets » Inflows Outflows » Avon products are seen at a Grameen America open house at St. John's University in New York April 18, 2009. Credit: Reuters/Eric Thayer Mon Apr 2, 2012 7:50am EDT (Reuters) - Beauty company Coty Inc said on Monday it had offered to buy cosmetics direct seller Avon Products Inc for $10 billion. Coty, known for fragrances for such celebrities as Beyonce 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. (Reporting By Phil Wahba) Global Deals Review: 2011 Q3 Global Deals Review: 2011 Q2 Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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