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Avon Board Said to Study Coty Due-Diligence Request

Avon Products Inc.’s board is evaluating a due-diligence request from Coty Inc. that seeks information on future products, global expenses, headcount and legal liabilities as the board decides whether to start merger talks, according to people familiar with the matter.

The one-page, seven-bullet-point list, which has not been made public, was attached to Coty’s letter last week to Avon that raised the takeover offer to $10.7 billion from $10 billion, said one of the people, who wouldn’t be identified because the matter is confidential. New York-based Avon made the letter public while keeping the diligence list private.