February 12, 2019 / 12:40 PM / 8 days ago

JAB offers to boost stake in Coty

Feb 12 (Reuters) - JAB Holding Co, a consumer goods-to-coffee conglomerate, on Tuesday laid out plans to increase its stake in cosmetics maker Coty Inc to 60 percent.

JAB, which is already the largest shareholder of the company with a 40 percent stake, said it would launch a tender offer to buy 150 million shares for $11.65 per share in cash.

The offer represents a premium of 20.6 percent, based on the stock’s closing price on Monday. The stock was trading at $11.30 before the opening bell on Tuesday. (Reporting by Aishwarya Venugopal in Bengaluru Editing by Saumyadeb Chakrabarty)

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