The Rising Influence of Rising Affluence

[DewDiligence]

COTY +19% on rumor regarding PG’s beauty business:

http://finance.yahoo.com/news/coty-track-clinch-p-g-163642125.html

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 make-up, part of its strategy to reverse its own declining sales trends.

For P&G, the sale is part of a large plan to narrow its focus on fewer, faster-growing brands.