Reckitt Benckiser Group

Coty Inc. offers to buy Avon for $10 billion.

Coty Inc. offers to buy Avon for $10 billion.

Two weeks ago Coty Inc. sent a proposition to purchase Avon for $10 billion cash. One giant is trying to eat the other. Avon refused the proposition as it was officially declared by Avon’s spokesperson: “At the time, the board concluded, and it still believes, that Coty’s indication of interest is opportunistic and not in the best interest of Avon’s shareholders“. Coty decided to make the offer public as they think it would be at the interest of Avon’s shareholders….