Avon shares spike on purported offer, company says no bid received

May 14, 2015 4:25 PM

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Avon shares spike on purported offer, company says no bid received

Shares of Avon Products Inc (AVP.N) soared on Thursday after a regulatory filing from a firm that said it had offered to buy the cosmetics company for nearly three times its market value.

The purported offeror, which identified itself as PTG Capital Partners, said in a filing with the U.S. Securities and Exchange Commission that it would pay $18.75 per share for Avon. (bit.ly/1A2HwEy)

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