Brazil's Natura says it is not in talks with Avon over possible takeover [Reuters]
AVON PRODUCTS (AVP)
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Source: Reuters
Brazil's Natura says it is not in talks with Avon over possible takeover | Reuters 2 Min Read Sept 17 (Reuters) - Brazil’s Natura Cosmeticos SA said on Monday it was not in talks with cosmetics maker Avon Products Inc about a possible takeover of the London-based company. The comments came after the Wall Street Journal reported here that Natura has reached out to Avon for a potential takeover. Shares of Avon, which has a market value of about $920 million, rose 21 percent in U.S. extended trading after the report citing people familiar with the matter. “Natura Cosmeticos notifies that there are no talks underway about a possible Avon acquisition,” the major Brazilian cosmetics retailer said. Avon Chief Executive Officer Jan Zijderveld has been trying to turn around the iconic cosmetics brand that has faced a number of issues, including declining sales and shareholder pressures. Zijderveld shuffled the company’s management, appointing a new chief digital officer and three new general m
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