Unlike earlier this year, or on several other occasions (chart below), this time the breaking news that cosmetic maker Avon Products is in play is apparently not a hoax. For background, industry rival Coty Inc offered to buy Avon for $10 billion back in 2012, and the stock ran up to above $23 a share, but the BoD rejected Coty’s offer as too low and “opportunistic”. A group of private equity investors helmed by Barington Capital proposed a restructuring of Avon earlier this week, arguing that the cosmetics maker is “significantly undervalued” and saying they strongly opposed the sale of...