Take a look at some of Monday’s morning movers:
Avon Products - Beauty products maker Coty is proposing to acquire Avon for $23.25 a share in cash, or about $10 billion. Coty says it's been unsuccessful in engaging Avon in takeover talks, but it does not intend to pursue a hostile bid.
Groupon - The online coupon provider is restating the results from its first quarter as a public company. An audit found that the company did not set aside enough money for customer refunds, which auditor Ernst & Young says constitutes a "material weakness" in internal controls. Following the revision, Bank of America/Merrill Lynch has reduced its rating on Groupon to "neutral" from "buy."
Express Scripts, Medco Health Solutions - The Federal Trade Commission has cleared the $29 billion dollar acquisition of Medco by Express Scripts after an eight-month investigation. The deal became official just moments after the announcement, a few days after several groups filed suit in an attempt to halt the combination.
AOL - The company has extended CEO Tim Armstrong’s contract through March 2016, at the same time that activist investor and major shareholder Starboard Value is mounting a campaign to win more seats on the board. Starboard has been critical of Armstrong’s strategy for the company.Page 1 of 3 | Next Page