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COTY

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Coty : JAB seeks takeover of CoverGirl maker Coty

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02/12/2019 | 10:10am EST

NEW YORK — German conglomerate JAB Holdings is seeking a majority stake in Coty Inc., which makes CoverGirl, Max Factor and Hugo Boss brand cosmetics and fragrances.

JAB is offering to buy up existing stock from shareholders at $11.65 per share, marking a 20 per cent premium from its closing on Monday. Specifically, it's hoping to buy up to 150 million shares which would boost its stake from 40 per cent to 60 per cent.

Coty's board of directors has to consider the proposal.

Coty's CEO, Camillo Pane, recently resigned from the New York company, which is facing supply chain and revenue issues. Pierre Laubies, who last ran JDE, a beverage company, took over in November. He also has a seat on the board.

In morning trading, Coty shares rallied 14 per cent to $11.02.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials ($)
Sales 2019 8 812 M
EBIT 2019 943 M
Net income 2019 -638 M
Debt 2019 7 327 M
Yield 2019 4,53%
P/E ratio 2019 -
P/E ratio 2020 27,60
EV / Sales 2019 1,77x
EV / Sales 2020 1,74x
Capitalization 8 294 M
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Technical analysis trends COTY
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TrendsBullishNeutralNeutral
Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 15
Average target price 10,9 $
Spread / Average Target -0,91%
EPS Revisions
Managers
NameTitle
Pierre Laubies Chief Executive Officer & Director
Peter Harf Chairman
Pierre-André Terisse Chief Financial Officer
Daniel Ramos Chief Scientific Officer
Joachim Faber Independent Director
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