Luxembourg-based investment company JAB is looking to take control of beauty giant Coty by acquiring up to 150 million additional shares in the cosmetics company - news that caused Coty shares to jump by 19%.
JAB made the offer in a letter to the Coty board on 12 February, saying: “We are pleased to advise you that we are commencing shortly a tender offer, pursuant to which we would acquire up to 150 million shares of Class A common stock.
“We at JAB have been investors in the Company for almost three decades and expect to remain so,” added JAB.
Not yet a Subscriber?
This is a small extract of the full article which is available ONLY to premium content subscribers. Click below to get premium content on Cosmetics Business.
Subscribe now Already a subscriber? Sign in here.
