Avon is surging after a report says the company might sell itself

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Avon

REUTERS/Brendan McDermid

Avon shares jumped more than 11% in trading on Thursday after Dow Jones reported that the company is in talks to sell a stake to private equity firms.

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According to the report, the firms include Platinum Equity and Cerberus.

The stock was halted before the spike in early-afternoon trading.

Back in May, Avon's stock spiked more than 20% after a filing on the Securities and Exchanges Commission's Edgar website indicated that PTG Capital Partners was offering to buy the company for $18.75 a share.

The SEC filed a lawsuit in connection with the Edgar filing, and charged a trader with a listed address in Bulgaria.

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The company's North American revenues have faltered in recent quarters.

An Avon spokesperson declined comment to Business Insider.

Here's a chart showing the spike in trading:

Screen Shot 2015 09 10 at 2.02.31 PM

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