Avon Stockholders Announce Breakup: Two dissident stockholders...
Avon Stockholders Announce Breakup: Two dissident stockholders of Avon Products announced they have terminated their partnership, apparently after a dispute over strategy. Chartwell Associates LP and Mary Kay Cosmetics Inc. denied any disagreement but were vague about the cause of the breakup. Mary Kay’s withdrawal reduced Chartwell’s holdings in Avon to 16.8% from 19.8%, but Chartwell said the partnership planned to purchase additional shares of Avon stock. Avon said it still regards Mary Kay and Chartwell as a united front.
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