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Avon Turns Down Mary Kay Offer: Avon...

Avon Turns Down Mary Kay Offer: Avon Products Inc. slammed the door on another suitor, saying it did not want to be acquired by the much smaller Mary Kay Cosmetics or anyone else. The hotly pursued cosmetics giant said a takeover would hinder a strong profit turnaround now under way. The New York-based cosmetics company, which earlier this month rejected a $2.1-billion, or $39-a-share, bid from Amway Corp., said this would be the worst time for a sale, as it was now recovering from setbacks in its health-care units. It said it told Dallas-based Mary Kay in January that it was not interested in a merger.


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