Avon Products closing in on settlement with feds

|About: Avon Products, Inc. (AVP)|By:, SA News Editor

A serious overhang over shares of Avon Products (AVP +0.5%) has been what the cost will be to the company to settle a corruption case that's been mounting for years, but developments today indicate that number might be better than expected.

As noted by dealReporter, the firm's 10-Q which was released this morning says Avon made a settlement offer of $12M to the government that, though rejected, tip off talks are ensuing and a final settlement could beat expectations.