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Coty Stock Plunges After Buying Procter & Gamble's Beauty Business For $12.5 Billion
NEW YORK (TheStreet) -- Shares of Coty Inc were plunging, sharply lower by 9.26% to $28.60 in early market trading Thursday, after the company announced that it has agreed to buy 43 beauty brands from The Procter & Gamble Co for $12.5 billion this morning. Coty will take over P&G's global salon professional hair care and color, retail hair color, cosmetics and fine fragrance businesses. Coty's ... Read News
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