Following Avon Products Inc’s (NYSE:AVP) statement dated May 13th that it will consider the new bid and respond within a week, Coty Inc. withdrew its revised $10.7 billion takeover bid, stating that it failed to receive an explanation from Avon for the one week extension. 
Coty, in its letter dated May 14, informed Avon that it is no longer interested in the buyout given the latter’s reluctance to enter into discussion regarding the proposal since its initial offer made two months … [visit site to read more] or compare Credit Card Rewards and Best Credit Cards