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Avon Products Shares Surge Then Tumble On Fake $8 Billion Buyout Bid

By Tony Seruga

Avon Products AVP +6% did not receive a $18.75 a share buyout offer, which would value the struggling cosmetics seller at over $8 billion, the company said in a Thursday afternoon statement.

“In response to an SEC filing made by an entity purporting to be named “PTG Capital Partners”, Avon reports that it has not received any offer or other communication from such an entity and has not been able to confirm that such an entity exists,” an Avon spokesperson told Forbes by email…

Avon Products Shares Surge Then Tumble On Fake $8 Billion Buyout Bid

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