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Avon’s Board Mulls Over Coty Offer

The direct seller’s board will consider the offer and prepare a response.

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By: Jamie Matusow

Editor-in-Chief

Yesterday, direct seller Avon Products Inc. advised Coty Inc. that its Board of Directors, in conjunction with management and the company’s financial and legal advisors, will consider Coty’s letter from May 9, 2012. The Board said it expects to respond within a week. Coty has been pursuing Avon in recent months. In early April, the company appointed Sherilyn S. (Sheri) McCoy, former Vice Chairman of Johnson & Johnson, as Chief Executive Officer.

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