5 Things You Should Know Before the Stock Market Opens
Cosmetics maker Avon(AVP) changed course on a buyout offer it had previously rejected, declaring that it would consider selling itself to Coty after Coty sweetened the deal.
In a two-sentence statement Sunday, Avon said its board would respond to Coty within a week.
Coty offered $23.25 for Avon on March 30, or about $10 billion. On Wednesday, Coty sent Avon a letter raising the price about 6.5% to $24.75 a share, or almost $10.7 billion.
Monster Worldwide (MWW) has drawn interest from a number of potential buyers, including private-equity firm Silver Lake Partners, Reuters reported, but LinkedIn(LNKD) , considered a would-be suitor, won't pursue a deal.
-- Written by Joseph Woelfel
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