By Benjamin Horney (April 16, 2015, 6:43 PM EDT) -- Henkel AG & Co. KGaA, Revlon Inc. and Coty Inc. are preparing to make bids for parts of Procter & Gamble Co.'s beauty business, Reuters reported Thursday. According to the report, the three companies have each hired investment banks to help put together proposals, which are due next week. Previous reports have said P&G is looking to sell a number of its beauty brands and hoping to fetch up to $19 billion combined from either one or multiple deals. According to Thursday's report, Henkel is interested in buying P&G's hair care business, which includes the Wella and Clairol brands, which could be worth $7 billion. Meanwhile, the report added, Revlon could look to buy P&G's cosmetics unit....