Coty Likely to Acquire P&G's Beauty Business

Coty is on track to acquire Proctor & Gamble's beauty business in a $12 billion deal that would make the U.S. cosmetic company the world leader in perfume and hair care, sources close to the matter said. If the deal goes though, Coty would get its hands on brands such as Gucci and Hugo Boss perfume, Wella and Clairol hair care products, and Max Factor and Cover Girl makeup, part of its strategy to reverse its own declining sales trends.