Helen of Troy rejects $37 cash offer from Empower Brands
Helen of Troy’s board rejected the unsolicited proposal, saying it substantially undervalues the consumer-products company and its standalone plan.
Helen of Troy Limited (NASDAQ: HELE) said on November 4 that its board unanimously rejected an unsolicited, non-binding proposal from Empower Brands Holdings Group to acquire the company for $37.00 per share in cash. Empower Brands is owned by Spectrum Brands Holdings and Oaktree Capital Management.
Helen of Troy said the proposal substantially undervalues its prospects and argued that continuing its three-phase strategic plan should create more long-term value. The company said it has raised its FY27 outlook, reinvested $66.5 million to $70.5 million of tariff refunds in the business and reduced total debt by about $244 million over the past 18 months.
The board said Empower Brands’ approach was opportunistic and arrived while Helen of Troy was executing a plan focused on its OXO, Osprey, Braun and Olive & June power brands. Helen of Troy said it remains open to opportunities that are in the best interests of shareholders and will consider credible proposals consistent with its fiduciary duties.
Offer price
$37.00
cash per share
Debt at Q2 FY27 end
$673M
company figure
Debt reduction
$244M
over 18 months
Sources
This story describes figures the company has published. It is for information only and is not investment advice or a recommendation to buy, sell or hold any security. Check the original filings before relying on any figure. Stoqly is not affiliated with the SEC or Helen Of Troy Ltd.
