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Potential Coty Acquisition of OPI

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According to Bloomberg and Reuters reports, Coty Inc. is nearing a deal to acquire nail care brand owner OPI Products Inc. for for $900 million to $1 billion. Bloomberg cited two anonymous sources with knowledge of the situation, and said an agreement may be reached as early as the week ending Nov. 19, 2010.

OPI has annual sales of about $300 million, and earnings before interest, taxes, depreciation and amortization of about $80 million.

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