12.03.15
It's not exactly a deal with the devil—just s deal with the dog from Hell. Beleagured Avon Products is in advanced talks with Cerberus Capital Management over the sale of its North American business, according to a Dow Jones report. A deal could include an equity stake for Cerberus. Shares of Avon were up up 6.6% on strong volume.
A sale of all or part of Avon has been in the news for months, make that years. Every time the beauty maker issues a poor quarterly report, observers say the time is right for a deal, with suitors ranging from investment bankers to Coty to bogus Bulgarians to Oprah Winfrey. This time, however, the bid may have some teeth, as Cerberus has been rumored to be interested in Avon for a couple of months.
A sale of all or part of Avon has been in the news for months, make that years. Every time the beauty maker issues a poor quarterly report, observers say the time is right for a deal, with suitors ranging from investment bankers to Coty to bogus Bulgarians to Oprah Winfrey. This time, however, the bid may have some teeth, as Cerberus has been rumored to be interested in Avon for a couple of months.
