Avon Deal Falls Through: Avon Products Inc....

Avon Deal Falls Through: Avon Products Inc. said a $450-million deal has fallen through in which the cosmetics giant was to sell its 60% interest in Avon Japan to Friends of Freesia Co. of Tokyo. John Cox, a spokesman for Avon, said the company declined to extend the closing on the transaction, which was to have included a $338-million cash payment and two separate royalty prepayments of $70 million and $42 million, until June as had been requested by the buyer. Cox said the company hoped to complete a deal by year-end.