COTY
Coty Inc.NYSE
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  • Fri, Nov. 11, 9:43 AM
    • A report in French media suggests L'Oreal has interest in Coty (COTY +1.3%).
    | Fri, Nov. 11, 9:43 AM
  • Nov. 2, 2015, 7:07 AM
    • Coty (NYSE:COTY) acquires the beauty business of Hypermarcas (OTCPK:HYPMY) for ~$1B.
    • The business generated over $250M in revenue last year through the sale of personal care brands in Brazil.
    • The deal is expected to close by the end of March of 2016.
    | Nov. 2, 2015, 7:07 AM
  • Jul. 9, 2015, 2:40 PM
    • Today's reaction to Coty's (COTY -5.3%) acquisition of $12.5B worth of Procter & Gamble's beauty assets has been mixed.
    • Citi's Wendy Nicholson warns on the extra debt load Coty takes on in the deal.
    • Stifel Nicolaus analyst Mark Astrachan thinks the acquisitions by Coty will pay off in the long term despite some cost savings and EPS accretion estimates which came in below early expectations.
    • "The deal also provides Coty management a meaningfully larger platform to deploy cash, including further acquisitions, share repurchase, and/or dividends," notes Astrachan.
    • The reaction from Piper Jaffray is muted with analyst Steph Wissink concluding the deal essentially combines two businesses with "limited" growth potential.
    • Shares of Coty were down over 10% earlier today before recovering on volume 3X normal activity. Coty ran up gains earlier this month on reports of talks with P&G.
    • Previously: P&G accepts Coty's $12.5B merger offer (Jul. 09 2015)
    | Jul. 9, 2015, 2:40 PM
  • Jul. 9, 2015, 8:40 AM
    • Coty (NYSE:COTY) is acquiring 43 of Procter & Gamble's (NYSE:PG) beauty brands in a complicated deal valued at $12.5B.
    • P&G expects to record a one-time gain of anywhere from $5B-$7B on the transaction, which includes its hair color brands, retail cosmetics and fine fragrance businesses.
    • While the final form of the deal has not yet been confirmed, P&G said it aimed to do a "Reverse Morris Trust," which involves both spinning off an asset and simultaneous merging it with something else.
    • PG +1.5%; COTY +2.2% premarket
    | Jul. 9, 2015, 8:40 AM | 45 Comments
  • Jun. 9, 2015, 3:04 AM
    • Stepping closer to shedding some more non-core assets, P&G (NYSE:PG) has received several binding offers for separate parts of its beauty business.
    • Bidders, including Henkel (OTCPK:HENKY), Coty (NYSE:COTY) and P-E firms KKR (NYSE:KKR), Clayton Dubilier & Rice and Warburg Pincus, have made offers in the billions of dollars for P&G's haircare unit, cosmetics division and fragrance business.
    • CEO Lafley said last August he would reverse the company's strategy of aggressive expansion and unload more than half of its brands.
    • Previously: Personal care companies prep bids for P&G beauty brands (Apr. 16 2015)
    | Jun. 9, 2015, 3:04 AM | 6 Comments
  • Apr. 16, 2015, 2:12 AM
    • As part of a cost-cutting strategy by Chief Executive A.G. Lafley, Procter & Gamble (NYSE:PG) may soon offload $10B-$12B worth of its beauty brands.
    • Personal care and cosmetics companies Henkel (OTCPK:HENKY), Revlon (NYSE:REV) and Coty (NYSE:COTY) are preparing bids for P&G's haircare business, cosmetics division and fragrance unit, respectively, sources told Reuters.
    • CEO Lafley said last August he would reverse the company's strategy of aggressive expansion and shed more than half of its brands.
    | Apr. 16, 2015, 2:12 AM | 3 Comments