JAB extends deadline for Coty acquisition

JAB extends deadline for Coty acquisition

JAB Holdings has extended the deadline set for its offer to acquire a majority stake in Coty to allow for regulatory approval in Russia, which remains outstanding.

The new deadline has been set for April 15, extended from March 29, subject to the further extension or earlier termination by JAB.

As of April 1, JAB had received regulatory clearance from Brazil, Canada, China, the European Union, Mexico, South Africa, Turkey, Ukraine, the United Kingdom and the United States.

Response to JAB’s tender offer has been strong, per the Financial Times, with some 282.3 million shares offered up for sale to date, well in excess of the 150 million required for JAB to up its share from 40 to 60 percent.

1 Comment

  1. NEIL FARMER ASSOCIATES

    Russia is difficult market at the moment for a variety of reasons.
    There is much support for the deal from other countries.
    There must be hope that this will all go through eventually.

    Reply

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