After losing $3 billion in market value since its last known suitor walked away, Avon Products Inc. may be more willing to open its door to potential buyers.

Avon’s board in March recommended shareholders vote against a proposal to limit golden parachutes for management fired in connection with a sale. That could be interpreted as a sign the board is open to a deal if Chief Executive Officer Sheri McCoy’s turnaround efforts fail to revive the $6.2 billion company, said B. Riley & Co. After two years of losses and a $500 million bill to clean up bribery charges, Avon is trading 42 percent below the $24.75-a-share bid from Coty Inc. in 2012.

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