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Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?

To: richardred who wrote (3092)	1/28/2013 12:19:24 PM
From: richardred	Respond to of 7243

Reckitt Benckiser Investor JAB Won’t Sell More Stock, Becht Says By Matthew Boyle & David de Jong - Jan 27, 2013 7:00 PM ET Joh. A. Benckiser Sarl, the investment company co-led by Bart Becht that’s been buying up coffee assets, has no plan to further reduce its ownership of Reckitt Benckiser Group Plc. (RB/) A sale would sacrifice JAB’s seat on the Dettol maker’s board as well as dividend payments, Becht, Reckitt Benckiser’s former chief executive officer, said in a phone interview. In May, Luxembourg-based JAB sold 1.2 billion pounds ($1.9 billion) worth of shares, reducing its stake to about 10.5 percent from 15 percent. That sent RB stock down the most in six months. Enlarge image Reckitt Benckiser’s former chief executive officer Bart Becht said, “We are not keen to go below 10 percent, as we would lose our board seat.” Photographer: Chris Ratcliffe/Bloomberg “We are not keen to go below 10 percent, as we would lose our board seat,” Becht said. “The RB stake generates cash flow for JAB, with its dividends. We are happy with our investment.” Prior to the May sale, JAB hadn’t sold the stock since 2003. JAB, the investment vehicle of Germany’s billionaire Reimann family, last year made a trio of deals to bolster its presence in the $45 billion global coffee market, acquiring Caribou Coffee Co., Peet’s Coffee & Tea Inc. and a stake in the maker of Douwe Egberts coffee. The moves came after JAB subsidiary Coty Inc. (COTY) unsuccessfully attempted a takeover of door-to-door cosmetics seller Avon Products Inc. Pablo Zuanic, an analyst at Liberum Research, expects JAB to dispose of its stake in Slough, England-based Reckitt Benckiser sometime after the end of a commitment not to sell any further shares for at least 365 days after the May 2012 sale. Such a move would free up capital to invest in faster-growing sectors of the consumer-products market, he said. Coffee Expansion “In my opinion, they will sell the RB stake, on the assumption they want to expand in coffee or in personal care with Coty,” said Zuanic, who recommends selling the stock. JAB is run by Becht, Peter Harf, who has worked there for more than three decades, and Olivier Goudet, who joined last year. Goudet and Harf once served together on the board of directors of Anheuser-Busch InBev NV (ABI), the world’s biggest brewer. The trio collectively own 8 percent of JAB. In addition to the coffee holdings, JAB owns 80 percent of Coty, which makes Calvin Klein fragrances, and Labelux Group GmbH, which manages luxury brands Bally, Belstaff and Jimmy Choo. It has about $16 billion in assets. bloomberg.com

To: richardred who wrote (3092)	8/9/2013 10:59:21 AM
From: richardred	Read Replies (1) \| Respond to of 7243

RE: RDEN Elizabeth ARDEN disappointed and possibly in time could be looked at by COTY IMO. It bounced off the 52 week low. AVP looks to be on the recovery road by itself, and a higher stock price without a bid. However they are lacking in skin care and the bigger attraction. AVP's Latin America sales and skin care line. L'Oreal is to big for Coty, but not for P&G or Unilever. A Big Beauty Industry Deal Might Be Coming Soon. beta.fool.com

To: richardred who wrote (3092)	9/29/2014 9:09:04 AM
From: richardred	Respond to of 7243

Coty chief executive leaves company September 29, 2014 NEW YORK (AP) — Beauty products maker Coty says its CEO has left the company for personal reasons and its chairman will take over on an interim basis. Michele Scannavini has left the CEO post and resigned the board of directors. Chairman Bart Becht will take over while the company seeks a permanent successor. Scannavini was promoted to CEO in 2012 from his previous role of as president of Coty Prestige shortly after Coty walked away from its $10.7 billion takeover bid for Avon in 2012. The New York company, known for its celebrity fragrances and OPI nail polish, went public in 2013. In its most recent quarter the company earned 3 cents per share adjusted for one-time costs, but both profit and revenue fell short of analyst expectations. Its shares finished at $17.12 last Friday. Its shares are up 12 percent so far this year through Friday. sfchronicle.com