Cosmetics company Avon is in talks to sell its North American business to private equity firm Cerberus amid activist shareholder pressure, Dow Jones reported Thursday, citing sources.
Shares of Avon closed nearly 7 percent higher on the day.
Avon and Cerberus aim to reach a deal this month, according to the wire service. Cerberus would become the company's biggest shareholder and would make a minority investment, the report said.
Cerberus did not immediately respond to CNBC's request for comment.