Coty Outlines Financing For Avon Bid

$14 billion might be the magic number for Coty's possible takeover of Avon. Coty chairman Bart Becht spoke to Avon investors during a call hosted by Sanford C. Bernstein & Co. analyst Ali Dibadj.

According to reports, Coty has lined up $14 billion of financing commitments for its proposed $10 billion acquistion of Avon, as previously reported in Happi. The initial bid for its larger rival Avon was rejected earlier this month.

Speaking on a conference call to hundreds of Avon shareholders, Becht urged investors to persuade the Avon board to engage in discussions in regards to a deal, said reports.