The company is conducting an auction process for a private investment in public equity (PIPE) with firms including Cerberus Capital Management and Platinum Equity, the WSJ reported, citing people familiar with the matter. Bids for the auction are due next week, the paper said, adding that such an investment is just one of the options Avon is looking at. It is unclear what the size of the stake would be or if the deal would go through, the WSJ said.