Avon shares jumped more than 11% in trading on Thursday after Dow Jones reported that the company is in talks to sell a stake to private equity firms.
According to the report, the firms include Platinum Equity and Cerberus.
The stock was halted before the spike in early-afternoon trading.
Back in May, Avon’s stock spiked more than 20% after a filing on the Securities and Exchanges Commission’s Edgar website indicated that PTG Capital Partners was offering to buy the company for $US18.75 a share. The company’s North American revenues have faltered in recent quarters.
The SEC filed a lawsuit in connection with the filing, and charged a Bulgarian trader.
The company declined comment to Business Insider.
Here’s a chart showing the spike in trading:
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