Dealreporter reported late last week that Avon was in talks with private equity firm TPG Capital about a potential buyout. Dealreporter cited three unidentified sources but said it was unclear how far along the two sides had progressed in the talks or if Avon had hired any advisory firms.
Bloomberg published a report Friday to say that Avon is the cheapest personal-goods company a buyout firm could find right now.
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More than 8.5 million shares had changed hands as of 11:01 a.m., compared to the daily average volume of 11,485,400.
Separately, TheStreet Ratings team rates AVON PRODUCTS as a "sell" with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate AVON PRODUCTS (AVP) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its generally high debt management risk, disappointing return on equity and generally disappointing historical performance in the stock itself."