By  on May 10, 2012

Coty Inc. is giving Avon Products Inc. one last chance to consider its takeover proposal — and it’s lined up none other than Warren Buffett to help it out.

After spending the last month working to win over Avon shareholders, Coty is once again lobbying Avon’s board. This time around, Coty has sweetened the offer with a higher bid of $24.75 a share, or $10.65 billion — and a new investor, Buffett’s Berkshire Hathaway Inc. Buffett’s company also has an investment in Johnson & Johnson, ironically the former employer of Avon’s new chief executive officer, Sheri McCoy.

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