Coty Inc./Avon Products
On April 2, 2012, Coty Inc., announced that it has submitted a non-binding proposal to acquire Avon Products, Inc. (NYSE: AVP) for $23.25 per share in cash in a mutually agreeable and negotiated transaction.
The proposal is valued at approximately $10 billion.
Coty has held extensive discussions with its financing sources about obtaining the debt and equity financing necessary to complete this transaction, and is confident that such financing will be available.
Following extensive but unsuccessful attempts to engage Avon in discussions regarding its proposal, Coty has decided to make its proposal public in order to inform Avon's shareholders of the significant value in a transaction. Coty said it has no intention of pursuing an acquisition on a hostile basis.
The proposal is valued at approximately $10 billion.
Coty has held extensive discussions with its financing sources about obtaining the debt and equity financing necessary to complete this transaction, and is confident that such financing will be available.
Following extensive but unsuccessful attempts to engage Avon in discussions regarding its proposal, Coty has decided to make its proposal public in order to inform Avon's shareholders of the significant value in a transaction. Coty said it has no intention of pursuing an acquisition on a hostile basis.
