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Tuesday, February 12, 2019

=Coty (COTY) : JAB to acquire 150 million additional shares of COTY at $11.65/share

JAB to Boost Stake in Coty After Management Turnover
The investment firm JAB wants to boost its stake in beauty products company Coty Inc., offering to buy shares from existing stockholders if independent directors on the company’s board sign off on the plan.
JAB states, "It is our expectation that the members of the Board of Directors who are determined to be independent for purposes of considering our Offer, advised by independent counsel and financial advisors of their choosing, will consider our proposal in the interests of all shareholders, determine the Company's course of action in response and make a recommendation to the Company's shareholders as required by applicable law. We believe that our offer is very full and compelling, but if the independent directors do not have a similar view, we will not proceed with the Offer. "

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