Avon Rubber target of acquisition proposal

MELKSHAM, England (Oct. 29)—Avon Rubber P.L.C. is the target of an acquisition proposal, the British rubber automotive and industrial components maker has confirmed. Avon "has received a very preliminary expression of interest that may or may not lead to an offer being made for the company," it said in an Oct. 26 statement to the London Stock Exchange. The comments were issued in response to a rise in the company's share price last week—up 32 percent alone in trading on Oct. 26—and press speculation. A further announcement will be made in due course, Avon said.