Empower Brands, a unit of Spectrum Brands, made an unsolicited, non-binding cash offer to acquire Helen of Troy for $37 per share, valuing the company at approximately $1.6 billion. The offer raises a previous proposal of $34 per share. Helen of Troy’s board unanimously rejected the proposal. The company released an investor presentation outlining its independent strategic plan in response.
Shares of the consumer products company surged in premarket trading after receiving a $37-per-share cash bid from a Spectrum Brands unit.
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