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Brazilian make-up model Natura Cosmeticos and Avon Products stated on Wednesday they’re in superior talks over a possible all-stock transaction that may see Natura take a majority stake within the U.S. group.
Natura stated in a press release that the 2 events are negotiating the ultimate particulars of the deal however cautioned that settlement will not be reached. Avon later confirmed talks are at a sophisticated stage.
Avon shares rose almost 22% in pre-market buying and selling in New York on Wednesday.
Reuters reported final week that Natura was near finishing the deal to purchase Avon, which has a market capitalization of $1.42 billion, as per Refinitiv information.
Citing folks acquainted with the matter, the Monetary Instances reported on Wednesday that Natura will purchase Avon in an all-stock deal that values the U.S. group at greater than $2 billion.
Natura will find yourself proudly owning about 76% of the mixed group whereas the remaining can be owned by Avon shareholders, the FT stated. The Wall…