Coty calling
Coty Inc. offered to buy Avon Products Inc. today in a deal valued at $23.25 a share, or about $10 billion, MarketWatch reported. The purchase price values Avon at a premium of $3.89 over Avon’s closing price of $19.36 a share on March 30. Avon shares jumped 27 percent to $24.50 in premarket trades, MarketWatch said. Coty said it went public with the offer after failing to negotiate a deal with Avon management.
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