By and  on October 13, 2010

Shares in L’Oréal fell 0.12 percent Tuesday to 81.56 euros on the Paris stock market following rumors that the French cosmetics giant was about to make a $44 per share bid for the $10.4 billion direct-sales beauty company Avon Products Inc., which would value the latter firm at $19 billion. Avon shares rose more than 4 percent Tuesday, to close at $34.54.

Both a L’Oréal spokeswoman and an Avon spokeswoman declined to comment on the report, originally published in the U.K.’s Daily Mail.

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