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April 2 (Reuters) – Beauty company Coty Inc said on Monday
it had offered to buy cosmetics direct seller Avon Products Inc
for $10 billion.
Coty, known for fragrances for such celebrities as Beyonce
and Lady Gaga, said it has been “unsuccessful” in getting Avon
to talk about its offer, but said it had no plans to make a
hostile bid.
Coty was offering $23.25 per Avon share, or a 20 percent
premium over Friday’s closing price of $19.36 on the New York
Stock Exchange.
