L'Oreal would acquire Avon
The shares of Avon Products Inc. jumped 11 percent for the news that one of the giants of the cosmetics industry, L'Oreal SA plans to make a takeover for the company.
According to the informations of the Daily Mail; the French group would pay 44 USD per share. Experts estimate the market value of Avon for 15 billion USD. Last year the company had a turnover of around 10 billion USD. L'Oréal’s offer is a 33 percent premium, compared to the yesterday closing price of the company's shares – reports Világgazdaság Online, after Bloomberg.
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