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Coty Pulls $10.7B Avon Takeover Bid

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  • Description

    FBN's Liz MacDonald on why Avon ignored Coty's takeover bid.

  • Duration 1:33
  • Date

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This transcript is automatically generated

Well.

Why Avon drag its feet sold along on Kohl he's ten point seven billion dollar takeover offer Elizabeth MacDonald has found some possible reasons they just -- You all the way from ten point seven billion dollar -- -- right and they -- we know that -- has three times the size of -- but still seven billion dollars.

We have an interesting note out from Bernstein they're saying essentially.

That look at -- Avon lady was petrified over leaks during due diligence.

Tickets -- always something Avon has a host of problems the new CEO share in on the -- it hasn't overflowing inbox.

Take a look -- Avon is dealing with -- government bribery present China India Japan.

Also same typical types of bribery probes but even more extensive in Brazil Mexico and Argentina I think -- -- -- because this is a longer lasting older bribery probe.

-- probes also into alleged leaks about the Cody deals.

To analysts so -- deep -- here.

From the SEC into the analyst -- is also very scary phone records emails conference blogs chronology events all is anybody else can wanna touch -- because of this -- is a great question by -- doesn't seem so right now there was a rumor on the marketplace that another buyer could come -- and by the way this -- bid with that but Warren Buffett who's gonna provide equity financing.

But you know the rating agencies are really taken a -- to the hammer to -- -- -- -- reading.

I don't know -- not tell you something when you look at these legal costs.

On a quarterly basis or swapping their net profits at -- 24 million dollars in legal costs that's about what they made in the last quarter recently.

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