Cerberus Near Deal to Acquire 80% of Avon's North American Business, 17% Stake in Avon for $605M - Wall Street Journal
Cerberus Capital Management LP is in talks to acquire 80% of Avon Products, Inc.'s (NYSE: AVP) North American business for $170 million, plus acquire almost a 17% stake in Avon for $435 million, according to sources reported by the Wall Street Journal on Thursday. Cerberus will receive three seats on Avon's board, the sources said.
A deal could be announced on Thursday. Avon shares traded at $4.09 on Wednesday, up $0.15.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.