Energizer Holdings Inc said it plans to separate into two publicly traded companies, one for batteries and other household products and the other for personal care brands such as Schick razors and Stayfree female hygiene products.Shares of the company, known for its Energizer and Eveready batteries, jumped more than 17 percent in morning trading.Energizer said it expects the separation to help the businesses intensify focus on commercial priorities and better allocate resources."We're surprised by the decision to split the company, but think it makes sense," BMO Capital Markets analyst Connie Maneaty said. "The personal care segment may realize a higher valuation if it is not bound to the battery business."
Energizer Holdings, Inc. (Energizer) is the manufacturer and marketer of primary batteries, portable lighting and personal care products in the wet shave, skin care, feminine care and infant care categories. Shares of ENR traded higher by 14.04% or $13.72/share to $111.43. In the past year, the shares have traded as low as $90.59 and as high as $113.16. On average, 617764 shares of ENR exchange hands on a given day and today's volume is recorded at 4013735.
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