"Go-Shop" Period for Spectrum-Russell Hobbs Deal Ends

ATLANTA-The "go-shop" period--the time frame in which a company can solicit alternative proposals--has ended for Spectrum Brands' proposed acquisition of Russell Hobbs, formerly known as Salton Inc.

In a company statement, Spectrum Brands said it still expects the deal to be finalized this summer. As announced on Feb. 9, the all-stock transaction would add small-appliance brands such as Black & Decker, George Foreman, LitterMaid, Toastmaster and others to Spectrum's portfolio of products. In addition, Harbinger Capital Partners, owner of Russell Hobbs and holder of 40 percent of Spectrum's shares, would own about 63.7 percent of the combined company.

Spectrum said it did not receive any alternative proposal during the go-shop period that the board of directors felt was superior to the proposed Russell Hobbs merger. The combination is expected to create a global consumer-products company with annual sales of about $3 billion.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover

    HFN's DIGITAL EDITION

    August 2017


    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    ALSO IN THIS ISSUE:

    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.