UPDATE 1-Coty to buy Chanel's Bourjois cosmetics brand in shares
October 07, 2014 at 11:34 AM EDT
PARIS, Oct 7 (Reuters) - US cosmetics group Coty said on Tuesday it had made a binding offer to buy French make-up brand Bourjois from Chanel and give the family-owned French luxury company a stake in Coty worth an estimated $240 million.