Empower Brands Announces Proposal to Acquire Helen of Troy Ltd. for $37.00 Per Share in Cash
Empower Brands — a venture jointly owned by Spectrum Brands (SPB) and Oaktree Capital — publicly proposed to acquire 100% of Helen of Troy for $37.00 per share in cash, an implied enterprise value of roughly $1.6 billion. The offer represents a 31% premium to HELE's 30-day volume-weighted share price, a 28% premium to the October 30 close, and a 16% premium to the 52-week high, with no financing contingency. An Empower affiliate already owns approximately 4.5% of HELE shares. The release discloses a months-long engagement history: an initial $34.00 proposal on August 19 was rejected on September 3, and HELE dismissed the raised $37.00 offer as inadequate on October 20.
Key figures
- Deal Value Usd
- $37.00 per share (implied enterprise value ~$1.6 billion)
- Offering Price
- 37
- Empower stake
- 4.5%
- Combined revenue
- $2.9 billion
- Premium 30day vwap
- 31%
- Premium 52week high
- 16%
- Premium oct30 close
- 28%
- Initial proposal price
- 34
- Implied enterprise value
- $1.6 billion
AI analysis
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