Spectrum Brands jumps as Assa Abloy moves to clear regulatory path for deal
02/12/2022 16:24
** Shares of consumer and home products maker Spectrum
Brands Holdings Inc SPB.N up 22.4% at $64.44
** Co says it is "more committed and confident than ever"
that it will complete the sale of its hardware and home
improvement segment to Assa Abloy AB ASSAb.ST ; expects sale to
close during Q2 2023
** Assa Abloy announced that it will sell its Yale and Emtek
lock brands, and U.S. and Canada residential businesses to
Fortune Brands Home & Security Inc FBHS.N urn:newsml:reuters.com:*:nL4N32S12P
** In October, Assa Abloy said that it was working to sell
its Emtek and smart residential business in the United States to
resolve U.S. antitrust issues related to its acquisition deal
with SPB urn:newsml:reuters.com:*:nL1N31F2MG
** As of last close, SPB down 36.7% YTD
(Reporting by Vansh Agarwal in Bengaluru)
((Vansh.Agarwal@thomsonreuters.com;))