2 Chartwell Representatives Quit Avon Panel: Explaining...
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From Times Staff and Wire Reports
2 Chartwell Representatives Quit Avon Panel: Explaining the resignations, Chartwell Associates said the special Avon Products Inc. committee was unwilling to find ways to increase the value of the cosmetics company. Avon denied the allegation. The panel was part of a truce worked out in the spring under which Chartwell agreed not to wage a threatened proxy fight against Avon. Avon’s stock rose $1.25 to $26.75 in NYSE trading.
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