Coty Inc. Proposes to Acquire Avon Products, Inc. for $23.25 Per Share in Cash

Proposal Represents Immediate and Certain Value for Avon's Shareholders at a 27% Premium Over the Company's Three-Month Weighted Average Share Price NEW YORK, April 2, 2012 /PRNewswire/ -- Coty Inc., a leading global beauty company, today announced that it has submitted a non-binding proposal to acquire Avon Products, Inc. Following extensive but unsuccessful attempts to engage Avon in discussions regarding its proposal, Coty has decided to make its proposal public in order to inform Avon's shareholders of the significant value in a transaction. Coty said it has no intention of pursuing an acquisition on a hostile basis. "Our