Coty Makes Offer For Avon, Smelling “Blood in the Water” – Analyst
This article was originally published in The Rose Sheet
Executive Summary
Coty envisions “an iconic beauty company” to emerge from its proposed acquisition of Avon; however, the direct seller’s management has dismissed the offer as “opportunistic” and not in shareholders’ best interest. Coty is now appealing directly to shareholders, highlighting the firms’ complementary product portfolios and geographical strengths. Meanwhile, Avon seems intent on finding growth and profitability on its own.