Energizer to acquire Playtex
Sunday, 15 July 2007
ST. LOUIS, July 14 (AP): The Energizer Bunny is taking on skin care products, wet wipes and sippy cups. Energizer Holdings Inc., known for its infinitely running bunny, will buy Playtex Products Inc. for US$1.16 billion as the company expands its portfolio of personal care products.
Investors liked the news: Playtex shares soared 15.80 per cent, or $2.45, to $17.97 in trading. Energizer shares rose almost 1.0 per cent, or 94 cents, to $107.67.
St. Louis-based Energizer is offering $18.30 per share for Playtex Products Inc., the companies said in announcing the deal late Thursday. The price represents an 18 per cent premium over Playtex's closing stock price Thursday.
Investors liked the news: Playtex shares soared 15.80 per cent, or $2.45, to $17.97 in trading. Energizer shares rose almost 1.0 per cent, or 94 cents, to $107.67.
St. Louis-based Energizer is offering $18.30 per share for Playtex Products Inc., the companies said in announcing the deal late Thursday. The price represents an 18 per cent premium over Playtex's closing stock price Thursday.