Avon (AVP -1.6%) reiterates its rejection of a $10B buyout bid by Coty, WSJ reports, citing an...

|About: Avon Products, Inc. (AVP)|By:, SA News Editor

Avon (AVP -1.6%) reiterates its rejection of a $10B buyout bid by Coty, WSJ reports, citing an AVP spokesperson. Though Coty says it has set up more secure debt financing from JPMorgan Chase to back its $23.25/share proposal, the offer fails to "reflect the fundamental value of the company," the company reportedly says.