Coty boosts buyout bid for Avon to about $10.7B (AP) NEW YORK - Beauty products maker Coty Inc. is raising its buyout offer for larger rival Avon Products Inc. (AVP) by about 6.5 percent to almost $10.7 billion. Avon said Thursday that Coty told it in a letter that it was raising its offer to $24.75 per share from $23.25 per share. The revised bid is a 15 percent premium to Avon's Wednesday closing price of $21.60. Avon had rejected Coty's $10 billion offer last month, but Coty has remained interested. Coty says it will withdraw its latest bid if it doesn't receive a response by the close of business Monday. Avon's profit tumbles Management shakeup at Avon Avon says its board will consider Coty's letter in due course. Its stock jumped $1.61, or 7.5 percent, to $23.21 in premarket trading.