JAB plans to increase stake in Coty to 60% for $1.7bn.

JAB Holding Company commenced its previously announced tender offer, pursuant to which an affiliate of JAB Group would acquire up to 150m additional shares of Coty’s Class A common stock at a price of $11.65 per share in cash. The Offer represents a premium of approximately 38% to the 90-day volume-weighted average share price, a premium of approximately 51% to the 30-day volume-weighted average share price, and approximately a 21% premium to closing share price. If all 150m shares of common stock are purchased in the offer, JAB would own, together with current shareholdings, an aggregate of 451m shares of common stock, representing approximately 60% of the issued and outstanding shares of Common Stock.