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Avon Stock Falls After Canaccord Genuity's Bursting Of Takeover Bubble

October 12, 2015: 12:00 AM EST
Avon Products Inc. saw the price of shares of its stock fell as much as 6.8 percent following Canaccord Genuity’s assertion that the cosmetics company’s prospects as a takeover target are likely overestimated. Since rejecting Coty Inc.’s takeover bid in 2012, Avon has been seen as a likely target for acquisition by other cosmetics companies. Avon’s decline is fueled by consumers’ growing dislike for door-to-door cosmetics purchases, the company’s main business model, according to market observers.
Nick Turner, "Avon Shares Drop After Analyst Downplays Its Takeover Prospects", Bloomberg, October 12, 2015, © Bloomberg L.P.
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