Spectrum Brands/Russell Hobbs Merger One Step Closer Apr 13, 2010

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Personal care appliance maker Spectrum Brands, Inc. said that the period for soliciting alternative proposals to its pending merger with electric Housewares OEM Russell Hobbs, Inc., has now expired. Spectrum Brands still expects the merger transaction to be completed this summer, creating a $3 billion global consumer products company.

The companies previously announced that the ”go-shop” period contemplated by Spectrum Brands’ Merger Agreement with Russell Hobbs, dated Feb. 9, 2010, was extended through Apr. 9, 2010. Spectrum did not receive any alternative superior proposals during the go-shop period.

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