Schick parent Edgewell Personal Care price target cut to $50 from $64 at RBC Capital Markets

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Schick parent Edgewell to buy Harry’s for $1.37 billion in cash and stock

Schick parent Edgewell Personal Care Co. announced Thursday a deal to buy Harry’s Inc., which provides a subscription shaving service, in a cash and stock deal valued at $1.37 billion. Under terms of the deal, about 79% of the value will be paid in cash and the rest in Edgewell common stock. Edgewell expects to finance the deal with cash on hand and new debt and equity. “Building on Edgewell’s and Harry’s complementary strengths, our combined company will have leading brands and omni-channel capabilities that are essential to meet the needs of the modern consumer and win in today’s market environment,” said Edgewell Chief Executive Rod Little. Edgewell’s stock, which was still inactive in premarket trade, has gained 6.6% year to date, while the S&P 500 has advanced 15%.

1 BUSINESS

Business News - Opportunities - Reviews

 

 

Leave a Reply