If the Avon lady rings your doorbell today seeming particularly ebullient, do her a favor and tell her nicely that "Girl, you know this is too good to be true."
Shares in Avon Products Inc. spiked by almost 20% in trading today after news leaked that the the company had received a buyout offer at a purchase price that valued the company at almost triple its current market price.
This is pretty fantastic news for Avon, which has seen sales of its beauty product fall off in recent quarters. For Avon investors, it's miracle. And like miracles it's kind of hard to believe.
Here's the rub. The company trying to buy Avon is calling itself PTG Capital Partners and it might not totally exist.
Firstly, the firm refers to itself as TPG Capital twice in the about section of its SEC filing. That's weird since TPG, as we all know, is a real company. A real company that ain't never heard of PTG.
Also, ain't no one ever heard of PTG Capital.
Also, something about the TPG Capital website is leading Google to believe that it's Polish... While the SEC hasn't stepped in yet, we're going to offer some prude financial advice to Avon and it's shareholders... Ahem. If he don't call you on the phone, can't tell you if he already has a girl and looks blurry in his profile pics... Avon, you getting catfished.