P&G Beauty Businesses Could Be Going Coty's Way, Insiders Say

Coty could soon be the new owner of P&G's Wella and Clairol hair-care businesses, CoverGirl and Max Factor makeup lines and prestige fragrance licenses, significantly growing Coty's global beauty presence, under a deal rumored to be in the works. Coty's stock jumped nearly 15% following reports that it has won an auction to purchase the brands as part of P&G's streamlining initiative.