Coty Withdraws Bid for Avon (AVP)
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Price: $24.02 +2.52%
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Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 1%
Revenue Growth %: -3.1%
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Coty Inc. withdrew its takeover bid for Avon Products, Inc. (NYSE: AVP) one day after Avon said it would review Coty's revised offer.
Coty said too much time has elapsed and as their deadline to begin discussions expired today, the proposal is withdrawn. Coty said they will move on and pursue other opportunities.
Coty's withdrawn offer contemplated paying Avon shareholders $24.75 per share, up from the original offer of $23.25 per share.
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Coty said too much time has elapsed and as their deadline to begin discussions expired today, the proposal is withdrawn. Coty said they will move on and pursue other opportunities.
Coty's withdrawn offer contemplated paying Avon shareholders $24.75 per share, up from the original offer of $23.25 per share.
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