Avon Shares Rise, Then Fall After Report of Deal Discussions

Avon Products Inc.’s stock briefly surged on a report that the cosmetics company is in talks to sell a stake to private-equity firms, only to retreat later in the trading session.

Avon has been in discussions with firms such as Cerberus Capital Management and Platinum Equity, the Wall Street Journal said on Thursday. Bids for the transaction -- known as a private investment in public equity, or PIPE -- are due next week, said the newspaper, which cited unidentified people familiar with the matter.