Avon Defends Against Coty Takeover With CEO Appointment
This article was originally published in The Rose Sheet
Executive Summary
After rebuffing Coty’s $10 billion acquisition offer April 2, Avon has appointed former J&J vice chairman Sheri McCoy as CEO. One analyst says the move is intended to “help defend the company from a Coty takeover.” Others believe Coty will come back with a sweeter proposal in the coming weeks.