Company News

Avon May Not Get a Better Offer

Observers say Coty’s bid may yet go through once a CEO is found.

Author Image

By: TOM BRANNA

Editor

After Avon rejected Coty’s $10 billion offer yesterday, analysts said the company’s legal woes, CEO search and unique business structure make it an unwieldy fit for traditional beauty companies. Cash-rich companies, like Procter & Gamble, may be uncomfortable with Avon’s direct sales model and its inability to find a CEO. Yesterday, Avon’s shares closed at $22.70, below Coty’s offer, a sign that arbitragers who profit from mergers and acquisitions are skeptical that a bidding war will b...

Continue reading this story and get 24/7 access to Happi for FREE


Already a subscriber? Sign in

Keep Up With Our Content. Subscribe To Happi Newsletters