- Avon (NYSE:AVP) is 2.5% lower after hours as a potential suitor denied a report that it had an approved loan to buy the company.
- Avon moved up 10.7% during the regular session following a report in Intereconomia.com that Brazil's Natura Cosmeticos had gotten approval from Santander to borrow up to $2.1B for an acquisition.
- But Natura has denied that, Bloomberg reports.
- That $2.1B figure implies a healthy 50% premium to pre-rumor pricing for Avon shares.