Jefferies Raises Price Target on Energizer Holdings (ENR) Following HandStands Acquisition
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UBS Raises Price Target on Energizer Holdings (ENR) to $47 Following HandStands Acquisition
May 25, 2016 8:49 AM EDTUBS reiterated a Neutral rating on Energizer Holdings (NYSE: ENR), and raised the price target to $47.00 (from $45.00), following HandStands acquisition. ENR's guidance indicates the deal will likely be $0.15-$0.20, accretive to prior FY17 EPS estimates and that it should also likely give... More
Energizer lawsuit over Duracell's pink bunny can keep going
May 24, 2016 1:40 PM EDTBy Jonathan Stempel
(Reuters) - Duracell has failed in its effort to dismiss a lawsuit claiming it violated Energizer Holdings Inc's (NYSE: ENR) trademark rights by using a pink bunny on battery packages that closely resembled the sunglass-clad, drum-beating Energizer Bunny.
In a decision last week, U.S. District Judge Carol Jackson in St. Louis said Duracell, recently bought by Warren Buffett's Berkshire Hathaway Inc , must face claims that its bunny confuses consumers and irreparably harms Energizer, which has used a bunny mascot since... More
Notable Mergers and Acquisitions 5/24: (TDG) (ENR) (HL) (CAG)
May 24, 2016 9:51 AM EDT*** TransDigm Group Incorporated (NYSE: TDG) announced today a definitive agreement to purchase ILC Holdings, Inc., the parent company of Data Device Corporation ("DDC"), from Behrman Capital for a total purchase price of $1.0 billion in cash. DDC is a leading supplier of databus and power supply products for the global military and commercial aerospace markets. TransDigm expects to finance the acquisition through a combination of cash on hand, existing availability under our revolving credit facility and new debt.
DDC revenues are anticipated to be over $200 million for the fiscal year ending December... More
Energizer Holdings (ENR) Enters Agreement to Acquire HandStands in $340M Deal
May 24, 2016 6:11 AM EDTEnergizer Holdings, Inc. (NYSE: ENR) announced that it has agreed to acquire HandStands Holding Corporation ("HandStands") from Trivest Partners for an aggregate cash purchase price of $340 million, subject to certain adjustments.
HandStands is a leading designer and marketer of automotive fragrance and appearance products. Inclusive of recent acquisitions, calendar year 2015 pro forma net sales were approximately $128 million, with approximately 80% in the U.S., and adjusted pro forma EBITDA was approximately $34 million. HandStands offers innovative products driven by deep consumer insights through well recognized brands such as Refresh Your Car!®, California Scents®, Driven®, Bahama &... More
