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Coty comments on extension of the tender offer for class A share of the company by an affiliate of JAB Holding Company SA rl.

Global Banking News-April 22, 2019-Coty comments on extension of the tender offer for class A share of the company by an affiliate of JAB Holding Company SA rl

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Beauty products company Coty Inc (NYSE: COTY) on Friday noted the extension of the tender offer by Cottage Holdco BV (offeror), an affiliate of JAB Holding Company Sa rl (JAB), to purchase up to 150,000,000 shares of the company's class A common stock at a price of USD11.65 per share in cash.

Reportedly, the company has been informed by offeror that the expiration date of the offer has been further extended by the offeror from 17:00 hours, New York City Time on 18 April 2019 to 17:00 hours, New York City Time on 24 April 2019, subject to the further extension or earlier termination of the offer by offeror.

Also, the offeror has indicated that, as of 17:00 hours, New York City Time on 18 April 2019, the last business day prior to the announcement of the extension of the offer, 206,066,808 shares had been validly tendered pursuant to the offer and not properly withdrawn. In addition, as of such time, notices of guaranteed delivery had been delivered for 145,969,978 shares.

This offer remains subject to various closing conditions stated in offeror's tender offer materials.

According to Coty, the offeror has informed it that the offer is being extended to coordinate with the anticipated timing of the one remaining regulatory approval in Russia.

((Distributed via M2 Communications - http://www.m2.com))

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Publication:Global Banking News (GBN)
Date:Apr 22, 2019
Words:267
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