By and  on November 12, 2010

Nail polish is the latest hot accessory in the M&A game.

Coty Inc., which already controls roughly half the retail nail market with its Sally Hansen and New York Color brands, is said to be the leading contender to snatch nail lacquer company OPI Products Inc. from the hands of its competitors in an auction. If Coty doesn’t nail down OPI — the company is believed to be asking upward of $1 billion — the runner-up could be Procter & Gamble Co., the consumer packaged goods behemoth that many consider the most logical partner for OPI because of its nail polish position, which is weaker than Coty. Private equity firms are also circling OPI.

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