May 14, 2015 / 4:21 PM / 2 years ago

Avon shares spike on purported takeover offer

May 14 (Reuters) - Shares of Avon Products Inc jumped after a regulatory filing from a company that said it had offered to buy the cosmetics company for nearly three times its market value.

The filer, which identified itself as PTG Capital Partners, said it would offer $18.75 per share for Avon. (bit.ly/1A2HwEy)

Reuters was unable to verify the veracity of the filing, which sent Avon’s shares up as much as 20 percent to $8.00.

Avon declined to comment on the purported offer. (Reporting by Siddharth Cavale and Yashaswini Swamynathan in Bengaluru; Editing by Ted Kerr)

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