Coty on track to clinch P&G beauty deal in coming weeks: sources | Reuters

(This June 16 story has been refiled to fix typo in Procter in first paragraph)

By Astrid Wendlandt

PARIS (Reuters) - Coty (COTY.N) is on track to acquire Procter & Gamble's (PG.N) beauty business in a $12 billion deal that would make the U.S. cosmetic company the world leader in perfume and hair care, sources close to the matter said.

If the deal goes though, Coty would get its hands on brands such as Gucci and Hugo Boss perfume, Wella and Clairol hair care products and Max Factor and Cover Girl make-up, part of its strategy to reverse its own declining sales t