Coty has completed the merger with Procter & Gamble Co. beauty business! The split-off included the CoverGirl cosmetics line and 40 other beauty brands in a deal valued at $11.4 billion! The merger completes 2 years of major work P&G has undertaken to streamline and strengthen their portfolio. Their focus is now on 10 product categories and 65 brands. The deal has resulted in the loss of 10,000 jobs with P&G, taking their total employee count to 95,000. Coty expects to achieve cost savings of $750 million, or 16% of acquired revenues, through synergies. Coty, which had already included brands such as Calvin Klein fragrances and Adidas deodorant, said it now holds the No. 1 position in fragrances and No. 2 and 3 positions in salon hair and color cosmetics.