Retail in Asia

In Sectors

Coty raises bid to USD10.7b for Avon products

Fragrance firm Coty has raised its offer for US beauty firm Avon Products to USD10.7 billion and secured the backing of Warren Buffett.

Coty, a New York-based firm that produces perfumes for celebrities, said it was "disappointed" after Avon refused to discuss the offer.

But Coty said it will withdraw its latest bid if it does not receive a response by the end of Monday.

(Source: BBC News )