Spectrum Brands Holdings Inc will purchase Stanley Black & Decker Inc's door lock and bath fixture business for $1.4 billion, adding brands such as Kwikset and Price Pfister to a line-up that includes Rayovac batteries and Remington shavers.Shares of Spectrum rose as much as 14 percent to their highest since the company emerged from bankruptcy in 2009, as investors welcomed the boost in earnings the deal promises.The acquisition, Spectrum's biggest ever, will boost its revenue by a quarter."This is a good acquisition for Spectrum Brands that will increase total revenues to over $4 billion," Spectrum Chief Executive Dave Lumley said in a statement.
Spectrum Brands Holdings, Inc. is a consumer products company. Shares of SPB traded higher by 1.11% or $0.51/share to $46.55. In the past year, the shares have traded as low as $23.04 and as high as $47.59. On average, 189992 shares of SPB exchange hands on a given day and today's volume is recorded at 39950.
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