Avon Rejects $10 Billion Takeover Bid From Coty

(Reuters) - Coty Inc disclosed on Monday that it had offered $10 billion for Avon Products Inc but the larger company, which is grappling with sliding sales and a bribery probe, rejected the bid as too low and "opportunistic". Combining Coty, maker of Stetson aftershave and Beyoncé fragrances, with Avon, the world's largest direct seller of cosmetics, would give Coty less reliance on fragrances and a bigger share of growing overseas markets.

Topics:  reuters    coty inc   avon products inc   combining coty   stetson   beyoncé   coty   avon    avon   billion   bid   monday   fragrances   
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