Avon Turns Down Coty’s Buyout Bid
Avon Products Inc. (NYSE:AVP), the world’s largest direct seller of beauty and related products, rejected privately held beauty company Coty Inc’s public bid to buy Avon for about $10 billion. Avon’s board refused Coty’s offer citing that the bid price of $23.25 per share undervalues the company. Avon’s rejection on the takeover bid came after [...]
Avon Products Inc. (NYSE:AVP), the world’s largest direct seller of beauty and related products, rejected privately held beauty company Coty Inc’s public bid to buy Avon for about $10 billion. Avon’s board refused Coty’s offer citing that the bid price of $23.25 per share undervalues the company.
Avon’s rejection on the takeover bid came after Coty went public in order to indulge Avon in a discussion regarding the buyout. Previously, Coty’s three proposals to Avon’s CEO failed to bring … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards