Avon Products Says Welcomes Open Communication And Feedback From Shareholders

(RTTNews) - In response to the press release issued on December 3, 2015 by Barington Capital Group L.P, beauty products maker Avon Products, Inc. (AVP) said it was aware that Barington has made a public announcement expressing its views on the company's business. Avon added that it welcomes open communication with and feedback from its shareholders.

Avon said it remain focused on taking strategic actions to drive sustainable, profitable growth, address changing and challenging industry dynamics, create opportunity for its Representatives and enhance value for all Avon shareholders. The company looks forward to continuing dialogue with shareholders as it execute its plans.

An investor group led by Barington Capital Group. Said Thursday that it would oppose any sale of the North America business of Avon Products, on terms that are disadvantageous to current shareholders or limit the options for a new senior management team to maximize long-term shareholder value. It would also oppose a sale of a dilutive equity stake at a "fire sale" price.

The Wall Street Journal had earlier reported that Avon Products is in advanced talks to sell its North American business to private equity firm Cerberus Capital Management LP.