Helen of Troy Issues Statement
Key Highlights
- ➤Helen of Troy rejects Empower Brands’ unchanged $37-per-share cash proposal as undervaluing the company
- ➤Board says standalone plan offers greater shareholder value, with raised fiscal 2027 outlook
- ➤Helen of Troy reports expanding margins and a significantly strengthened balance sheet
- ➤Empower Brands declined Helen of Troy’s offer to share detailed financial plans under an NDA
- ➤Spectrum Brands and Oaktree own Empower Brands, which made the unsolicited proposal
Helen of Troy Limited (NASDAQ: HELE) (“Helen of Troy” or the “Company”) issued the following statement in response to Empower Brands Holdings Group, LLC (“Empower Brands”), which is owned by Spectrum Brands Holdings, Inc. (NYSE: SPB) (“Spectrum Brands”) and Oaktree Capital Management, L.P. (“Oaktree”):
The Helen of Troy Board of Directors unanimously determined that Empower Brands’ unsolicited, non-binding proposal to acquire Helen of Troy, which remains unchanged at $37.00 per share in cash, significantly undervalues the Company and its prospects for continued growth and value creation. The Board is confident that the Company’s standalone strategic plan will deliver more value to shareholders than this proposal.
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