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Coty raises bid to buy Avon
NEW YORK -- Beauty-products maker Coty Inc. is raising its buyout offer for direct-seller Avon Products Inc. by about 6.5 per cent to almost $10.7 billion, with help from billionaire investor Warren Buffett's Berkshire Hathaway.
Avon, whose brands include Skin-So-Soft, Anew and mark, said Thursday Coty told it in a letter it was raising its offer to $24.75 per share from $23.25 per share.
Sun Life's financial picture bright
STRONG stock markets and rising interest rates in the U.S. helped Sun Life Financial post a 57 per cent higher profit in first-quarter earnings compared with a year ago.
Sun Life reported earnings of $686 million or $1.15 per share in its latest quarter, up from $438 million or 73 cents in the same period last year.
Bombardier reassures investors
MONTREAL -- Bombardier tried to reassure investors Thursday investments in a series of new planes and trains will eventually improve the manufacturer's lagging share price.
Bombardier missed expectations Thursday as its profit dropped nearly 14 per cent to US$190 million in the first quarter on a 25 per cent decrease in aerospace and transportation revenues.
Investors love what Ford's doing
WILMINGTON, Del. -- Ford executives won rave reviews from stockholders Thursday during the shortest company shareholder meeting on record, just 45 minutes.
"You guys are doing a tremendous job," said Frank DeFazio, a shareholder from Tucson, Ariz. The Dearborn, Mich.-based company reported its third consecutive annual profit last year -- US$20.2 billion.
-- from the news services
Republished from the Winnipeg Free Press print edition May 11, 2012 B6
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