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STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Avon Products, Inc.(NYSE: AVP) (aAvona) and other violations of state law by the board of directors of Avon relating to its rejection of an offer by Coty Inc. (aCotya) to acquireAvon.

"a very substantial premium of 27% over the three month volume-weighted average price for Avon shares"

On April 2, 2012, Coty announced that it had offered to purchase Avon for $10 billion. Under the terms of the current offer, Avon shareholders would receive $23.25 for each share of Avon common stock held. According to Cotyas press release, this represents aa very substantial premium of 27% over the three month volume-weighted average price for Avon sharesa and a20% premium over the Company's closing share price on March 30, 2012. According to Bloomberg, a[a]t the $10 billion price, the offer would be the biggest takeover in the cosmetics and toiletries industry since 2005 . . .a

According to Cotyas press release, following aextensive 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.a Further, according to the Wall Street Journal, Coty Chairman Bart Becht wrote Avon last month stating that Coty awould be prepared to consider increasing the price of [its] proposal,a if Avon could ademonstrate that there is greater value than is apparent from publicly available information.a

The board of directors of Avon announced its rejection of Cotyas offer in an April 2, 2012 press release. The firmas investigation seeks to determine, among other things, whether the board of directors of Avon breached its fiduciary duties by rejecting this offer.

If you currently own shares of Avon and would like to learn more about the investigation being conducted by Brower Piven, you may email or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling (410) 415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.