Spectrum-backed Empower Brands urges Helen of Troy shareholders to support takeover offer
HELE•Empower Brands renewed its $37-per-share all-cash offer for Helen of Troy on November 12, valuing the company at approximately $1.6 billion including debt, and urged shareholders to support the bid.
1. Bid renewed
Empower Brands renewed its offer on November 12 after Helen of Troy’s board rejected it on November 4. The bidder said it remains open to discussions that could support an improved proposal and questioned Helen of Troy’s ability to deliver its standalone turnaround.
2. Terms and timing
The all-cash offer remains $37 per share, valuing Helen of Troy at approximately $1.6 billion including debt. Empower expects to complete due diligence and finalize a merger agreement within 45 days, with no financing contingencies. An Empower affiliate holds approximately 4.5% of Helen of Troy. Empower Brands is jointly owned by Spectrum Brands and Oaktree-managed funds.
