No Huddle OffenseIn his "No Huddle Offense" segment, Cramer opined on Avon Products' (AVP) decision to decline a takeover bid that valued the company 20% higher than where it was currently trading.
Cramer said Avon was right to decline the deal, as it merely valued the company to where it should have been had the Avon's board of directors given former-CEO Andrea Jung the boot years ago instead of only in last December. Jung, a denizen of Cramer's "Wall of Shame" list of the worst CEOs, was a serial underperformer, said Cramer, and deserved to be ousted a long time ago. He said that under new management, Avon should be able to reclaim a lot of its lost value and may someday be strong enough to buy its proposed suitor, instead of the other way around.
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