Arab Today, arab today avon turns down 10 billion offer
Last Updated : GMT 21:10:43
Arab Today, arab today
Arab Today, arab today

Avon turns down $10 billion offer

Arab Today, arab today

Arab Today, arab today Avon turns down $10 billion offer

New York - UPI

U.S beauty products firm Avon Products Inc. said Monday it had turned down a $23.25 per share bid from Coty Inc., saying it undervalued the company. Avon said the offer was \"only a 20 percent premium over the company\'s closing share price on March 30, 2012,\" whereas Coty announced its offer was \"valued at $10 billion,\" which, the firm said, \"represents a very substantial premium of 27 percent over the three-month volume weighted average price for Avon shares.\" Avon, the firm that boasts a sales staff of 6.4 million, said Coty did not make a \"real offer.\" It was subject to so many conditions that the strategy, Avon said, was, in effect, \"to obtain a \'free look\' at Avon in the absence of any commitment whatsoever to close a transaction at any price.\" In contrast, while Coty said it was not interested in a hostile takeover, it published a letter sent to Avon\'s Chairman and Chief Executive Officer Andea Jung. \"We are confident your shareholders would want the board to at least explore with us the possibility of such a compelling transaction,\" the letter said.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today avon turns down 10 billion offer Arab Today, arab today avon turns down 10 billion offer

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today avon turns down 10 billion offer Arab Today, arab today avon turns down 10 billion offer

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday