Avon Seeks to Repel Unwanted Suitor: Cosmetics...

Avon Seeks to Repel Unwanted Suitor: Cosmetics company Avon Products Inc. sought to repel unwanted takeover advances from an alliance of powerful investors including oil heir Gordon P. Getty, a senior Mary Kay Corp. executive and the Fisher real estate family of New York. A limited partnership called Chartwell Associates, revealing its intentions after it became known that the group had bought a stake in Avon, said it may propose a merger between Avon and itself or one of its affiliates. Chartwell Associates disclosed in an SEC filing that it owns 6.9% of Avon’s common stock and intends to purchase additional shares. An Avon spokesman said the company continues to believe that Avon is better off on its own, a position the board steadfastly maintained when rejecting previous takeover proposals this year.