A cosmetic approach

摘要

In theory, all 5,400 listed firms on America's equity markets are always for sale. In reality, bids rarely come out of the blue. That may explain why a notice posted on May 14th on the website of America's main stockmarket regulator, the Securities and Exchange Commissior (SEC), of a ludicrously high bid for Avon Products, a beleaguered door-to-door cosmetics company, prompted investors to buy first and ask questions later.