Topic: How To Invest

Spinoffs & Takeovers Hotline – Friday, February 21, 2020

Article Excerpt

EDGEWELL PERSONAL CARE CO. $34.03, symbol EPC on New York, is a consumer products company. Its brands include Schick, Edge, Hawaiian Tropic, Playtex and Wet Ones. Energizer Holdings Inc. (symbol ENR on New York) spun off the company in July 2015. In a bid to increase value for investors, on May 9, 2019, Edgewell announced that it would acquire Harry’s Inc., a New York City-based manufacturer and online seller of men’s shaving and grooming products, for $1.37 billion. However, on February 10, 2020, Edgewell announced that due to the U.S. Federal Trade Commission’s launch of a lawsuit to block the merger, the company has terminated its deal with Harry’s. While it says it is disappointed with the FTC’s decision to oppose the merger, the company feels a lengthy lawsuit with the federal government would be a distraction. In the quarter ended December 31, 2019, Edgewell’s revenues fell by 0.7%, to $454.0 million from $457.1 million a year earlier. Revenues for its Sun & Skincare…