Deals
Coty Withdraws $10.7 Billion Avon Offer as Talks Spurned
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Avon Products Inc., the world’s largest door-to-door cosmetics seller, fell the most in more than six months after Coty Inc. withdrew its $10.7 billion offer.
Avon slid 11 percent to $18.68 at 10:17 a.m. in New York, the biggest decline in the Standard & Poor’s 500 Index. The shares earlier fell 14 percent for the largest intraday drop since Oct. 27. The stock had gained 20 percent this year before today.