雅芳

Lex_Coty / Avon: loss of face
雅芳「面子」難保


Lex專欄:法國香水巨擘科蒂計劃收購陷入困境的雅芳。交易在不和的氣氛中告終。在科蒂收購要約公開前的兩年,雅芳股價已落後大盤,如今更跌破要約前的價格。

What a waste of time. Stock prices moved. Letters were exchanged. Boards met. Lawyers, analysts and journalists were kept busy. And in the end, Coty’s limp bid for the flailing cosmetics seller Avonended with a pouty letter. “Yesterday, we received a two sentence email indicating, without explanation, that Avon’s board would need another week to consider our request,” Coty complains. “We have received no explanation ... no one from Avon’s board or management has been willing to speak with us ... our proposal is withdrawn.” Boo hoo.

這簡直是浪費時間。調整收購報價,交換檔案,董事會開會。律師、分析師和記者們忙得團團轉。到最後,法國香水巨擘科蒂(Coty)公司對雅芳(Avon)這家百般掙扎下的化妝品公司一場拖沓的收購案,卻以一封幽怨的信宣告中止。 「昨天,我們收到一封僅兩句話的電子郵件,在沒有任何解釋的情況下聲稱,雅芳董事會還需要一週時間考慮我們的要約,」科蒂抱怨道。「我們沒有收到任何解釋……雅芳公司董事會和管理層中也沒有一個人願意與我們對話……我們已撤回收購提議。「嗚呼哀哉。

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