Avon Products has made an age-old mistake: It didn’t settle. The beauty company has agreed to sell itself to Brazil’s Natura Cosmeticos for a premium above its price back in late March, prior to deal talk, of 28%. On Wednesday it closed at $3.49 a share. Back in 2012, Avon passed on an offer from Coty for $24.75 a share that included backing...

Source: Wall Street Journal May 22, 2019 16:07 UTC