Avon Scoffs At $10B Coty Takeover Proposal
Coty submitted a nonbinding proposal to acquire Avon, the world's largest direct seller of beauty products, for $23.25 per share. The price represents a “very substantial” 27 percent premium over Avon's three-month volume-weighted average share price, according to Coty.
The company said it planned to obtain debt financing from JPMorgan...
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