Avon colors new activist-buyout battle lines

December 4, 2015

The makeup company is under fire from a pushy investor and may call on private equity firm Cerberus to help. Motorola and NCR similarly just sold minority stakes to Silver Lake and Blackstone. This growing white-knight role suggests the targets aren’t the only ones with troubles.

Coty will need to up its Avon game

April 11, 2012

The U.S. cosmetics group has spurned Coty’s $10 bln approach and hired a new CEO. If Avon’s European suitor is really keen to marry makeup to its fragrances, it needs to pay more. A new Breakingviews calculator shows just how much bigger Coty’s proffered engagement ring could be.

Nestle selldown leaves L’Oreal more a family group

February 11, 2014

The food giant is selling an 8 pct stake in L’Oreal back to the French cosmetics company. Nestle says its residual 23 pct holding remains strategic after the 6 bln euro deal. But the Bettencourt family will tighten its control. Long term that makes Nestle more of a seller.