Avon stock up on talk of potential sale to Brazilian rival Natura
Avon Products Inc (NYSE:AVP) is discussing a possible sale with Bazillion competitor Natura & Co, the Wall Street Journal reported Friday.
Citing a person familiar with the matter, the report indicated Natura might also acquire Avon’s now-privately held North American business, stitching the cosmetics maker back together. The door-to-door makeup seller sold a majority stake in its North American arm to Cerberus Capital in 2015 and moved its headquarters to London from New York.
The stock is sitting pretty, up 4.1% to $2.90. Including today, shares have increased more than 90% since 2019 began.
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/217053/avon-stock-up-on-talk-of-potential-sale-to-brazilian-rival-natura-217053.html
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