Avon Confirms Merger Talks With Natura; Avon Shares Jump

(RTTNews) - Avon Products, Inc. (AVP) said the company is in advanced discussions with Natura & Co. regarding a possible all-stock deal. Avon said it does not intend to make any additional comments.

Earlier on Wednesday, Natura Cosméticos S.A. said the company is in talks with Avon regarding an all-share merger. The companies are currently discussing final contractual terms of the proposed deal under which Natura & Co. plans to acquire Avon. Natura said it does not intend to comment on market rumors regarding the timing for the announcement of the deal.

Shares of Avon Products, Inc. were up more than 17% in pre-market trade on Wednesday.