Speculative Bet

Just as an FYI, I think AVP is a reasonable bet here.  There is a hostile bid at 24.75 with reasonable backing.  AVP is going through a restructuring to increase shareholder value.  Cody really wants Avon and with the proper backing can still go up in price.  My guess is they could go up to the 27 range.  Given that AVP was trading at below 17 a few weeks ago, this is a spec for sure, but I think there are some tailwinds in your favor.

With hostile bids in merger arb, it makes sense to put a little money out there (key word small) and see how things develop. We will see some action in the next few days.