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Strategies & Market Trends : Speculating in Takeover Targets
CTG 8.1000.0%Dec 3 4:00 PM EST

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From: richardred10/12/2010 11:48:55 AM
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Avon jumps after takeover report
Oct. 12, 2010, 10:44 a.m. EDT
By William Spain, MarketWatch

CHICAGO (MarketWatch) -- Shares of Avon Products bounced more than 6% early Tuesday after a media report said that the beauty-products behemoth could be a takeover target.

A story in Britain’s Daily Mail said that one bidder for Avon (NYSE:AVP) is L’Oreal, which is preparing a cash offer of more than $44 a share.

The newspaper noted in its market report column that Avon shares have “been in strong demand” and improved further “amid hot gossip that it is attracting the attention of several big industry players.”

Other potential bidders include Procter & Gamble (NYSE:PG) and Unilever, the story said.
marketwatch.com
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