Spectrum Brands Secures Clearance From Mexico To Complete Sale Of HHI
Portfolio Pulse from Benzinga Newsdesk
Spectrum Brands has received clearance from the Mexican competition authority to sell its Hardware and Home Improvement segment (HHI) to ASSA ABLOY for $4.3 billion in cash. The transaction is expected to close on or before June 30, 2023.
June 05, 2023 | 8:43 pm
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Spectrum Brands' sale of HHI to ASSA ABLOY for $4.3 billion has been approved by Mexican authorities, with the transaction expected to close by June 30, 2023.
The approval from the Mexican competition authority is a positive development for Spectrum Brands, as it moves forward with the sale of its HHI segment. This will likely have a positive impact on the company's stock price in the short term, as it indicates progress in the transaction and potential inflow of cash from the sale.
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