Spectrum Brands (SPC) Gain Over 7% After Announcing Sale of United Pet Group Business
More News related to SFPI
- Spectrum Brands (SPC) Gain Over 7% After Announcing Sale of United Pet Group Business
- Salton, Inc. (SFPI) to Acquire United Pet Group from Spectrum Brands (SPC)
More News related to SPC
- Matrix USA Rating Changes 9/4
- Unusual 11 Mid-Day Movers 8/19: SPC, HYGS, WCG, GSS Higher; ISSC, FMD, CNTF, RUS Lower
- Spectrum Brands (SPC) Reports Q2 EPS of $0.06
- Spectrum Brands Reports Third Quarter 2008 Financial Results
- Spectrum Brands (SPC) Refutes Infringement Claims Made by Energizer
Shares of Spectrum Brands, Inc. (NYSE: SPC) are trading up $0.33 (+7.33%) after announcing the company is selling is United Pet Group business to Salton, Inc. (OTC: SFPI) for an amount equal to approximately $692.5 million in cash plus additional consideration in the form of $98 million of Spectrum's Variable Rate Toggle Senior Subordinated Notes due 2013 and $124.5 million of Spectrum's Senior Subordinated Notes due February 1, 2015.
Shares of SPC have fallen 46% since May 30, 2007, when shares traded around $8.38 (excluding today's gain). Shares have even given some back this morning, opening at $5.03, but are trading around $4.83.
Spectrum Brands, Inc. (Spectrum) and its subsidiaries is a global branded consumer products company with positions in seven product categories: consumer batteries; pet supplies; electric shaving and grooming; electric personal care; portable lighting; lawn and garden, and household insect control.[SM]
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