86
Fashion Jobs
SHISEIDO
K-Key Account Lead
Permanent · HO CHI MINH CITY
ADIDAS
Senior Director Product Creation Ftw
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Corporate Affairs & Reputation Manager - Corporate Affairs & Engagement
Permanent · HO CHI MINH CITY
JO MALONE LONDON
Education Manager, Jml/lm
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Senior HR Operations Executive/ Assistant Manager
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager (Franchise)
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Commercial, Adigolf, Vietnam 1
Permanent · HO CHI MINH CITY
ADIDAS
Key Account Manager 1 (Franchise)
Permanent · HO CHI MINH CITY
COLUMBIA
lo Costing & Engineering Manager
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Category Manager - Cpd
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Business Planning Manager - Cpd
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager Product Creation (Sportwear)
Permanent · HO CHI MINH CITY
L'OREAL GROUP
Product Manager - Shu Uemura
Permanent · HO CHI MINH CITY
ADIDAS
Manager, Quality Product Integrity
Permanent · HO CHI MINH CITY
TAPESTRY
Manager, Manufacturing Engineer
Permanent · HO CHI MINH CITY
SPECIALIZED
Painting Quality Engineer - Bình Dương, Vietnam
Permanent ·
ON RUNNING
Social Compliance Specialist - Hcm Based
Permanent · HO CHI MINH CITY
ADIDAS
Senior Manager, Sourcing Operations
Permanent · HO CHI MINH CITY
WILLIAMS SONOMA
Wood Sustainability Specialist - (Global)
Permanent · THUẬN AN
PUMA
Manager Quality Apparel & Accessories
Permanent · HO CHI MINH CITY
PUMA
Senior Executive, Finance
Permanent · HO CHI MINH CITY
PUMA
Head of Quality Footwear
Permanent · HO CHI MINH CITY
By
Reuters
Published
May 10, 2012
Reading time
2 minutes
Download
Download the article
Print
Text size

Coty raises Avon bid, sets talks deadline

By
Reuters
Published
May 10, 2012

Beauty products company Coty Inc has raised its bid for Avon Products Inc but said it would withdraw its offer if Avon did not enter into discussions by May 14, according to a letter Avon made public on Thursday.


Photo: Avon


Coty, maker of Stetson aftershave and Beyoncé fragrances, raised its offer to $24.75 per share, or $10.65 billion. In April, it had offered to buy Avon for $23.25 per share. Avon's board said it would consider Coty's latest bid "in due course."

Avon rejected all prior offers from Coty, saying the company's value could rise more under a new CEO than as part of Coty.

Avon, the world's largest direct seller of cosmetics, named a new CEO, former Johnson & Johnson executive Sheri McCoy, last month. McCoy told investors last week in her first public comments as CEO that her first priority is to stabilize Avon's business.

The company, which on top of declining sales at home and a loss of sales representatives, is facing a U.S. probe into overseas bribery allegations.

Last week, Avon reported weak first-quarter results, including a sharp drop in profits. Avon has said it will conduct a thorough business review this year, but Coty said in its letter it could not give Avon all that time.

"We continue to believe that our proposal would provide compelling value to Avon's shareholders relative to a difficult and uncertain multi-year turnaround on a stand-alone basis," Coty Chairman Bart Becht said in the letter addressed to Avon's board, dated May 9.

Avon shares rose 3 percent in premarket trading to $22.25.

© Thomson Reuters 2024 All rights reserved.