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New $10.7 billion bid involves Berkshire Hathaway and a Monday deadline.
May 10, 2012
By: TOM BRANNA
Editor
Coty Inc. has made a new nearly $10.7 billion bid for Avon in a deal that involves Berkshire Hathaway Inc. Coty raised its price per share 6.5% to $24.75 and also put forth a Monday, May 14 deadline for Avon’s board to respond—or it will pull out of the deal. Coty’s equity financing sources in this latest deal include its principal shareholder Joh. A. Benckiser, BDT Capital Partners and certain of its limited partners, and Berkshire Hathaway Inc. Avon Products, Inc. said it had rece...
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