Group Buys 5% Stake in Avon: An...
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From Times Staff and Wire Reports
Group Buys 5% Stake in Avon: An investment group including Mary Kay Cosmetics has amassed a 5% stake in Avon Products Inc. Avon earlier this year rebuffed overtures from Mary Kay Corp. Vice Chairman John P. Rochon rejected outright takeover proposals from investor Irwin A. Jacobs and rival direct seller Amway Corp. A limited partnership calling itself Chartwell Associates notified Avon that it held 5% of Avon’s outstanding voting stock, Avon said. Chartwell did not divulge its intentions.
