Moscow. December 14. American Jarden Newell Rubbermaid buys for $13.2 billion, to significantly extend the brand of the goods for the house and creating a new giant in the consumer sector of the USA with an annual turnover of over $16 billion, reports Bloomberg.
Jarden shareholders will receive $60,03 in cash and in the form of securities for each share they owned of the company. The transaction price is 24% above quotations at the close of trading on December 4 – last day before the press leaked rumors about the talks between the companies.
Newell Rubbermaid shareholders will control 55% of the combined company, which will be called Newell Brands. Will be headed by its current Newell Rubbermaid CEO Michael Polk.
As expected, the deal will allow the companies to save $500 million over four years.
Founded in 2001, Jarden owns more than a hundred well-known brands of consumer goods, including slow cooker Crock-Pot, goods for baseball, Rawlings and Sunbeam small appliances. During its existence, Jarden bought more than 30 companies, significantly improving their brands and results.
Newell among other things produces baby strollers Graco, pens and Sharpie markers, storage containers Rubbermaid.