Coty has raised its bid for Avon Products, with the backing of Warren Buffett's Berkshire Hathaway, but the beauty products company said it would withdraw the offer if Avon did not enter into talks by the close of business on May 14, according to a letter Avon made public on Thursday. APCoty, maker of Stetson aftershave and Beyoncé fragrances, raised its offer to $24.75 per share, or $10.65 billion. In April, it had offered to buy Avon for $23.25 per share. Avon's board said it would consider Coty's latest bid "in due course." In the letter, dated May 9, Coty Chairman Bart Becht said equity financing sources include Coty's main shareholder, Joh. A. Benckiser, BOT Capital Partners and some of its limited partners, and Berkshire ...
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