Mergers and Acquisitions Recap: Xstrata Gets A Week, Spectrum Brand’s Likely Purchase
The long proposed and well-debated acquisition of Xstrata Plc (XSRAF.PK)(XSRAY.PK) by Glencore International plc (GLCNF.PK) has prompted the United Kingdom’s takeover regulator to allow one extra week for the former to make its response to the bid. Xstrata now has until Oct. 1st to decide if it will recommend the offer to shareholders.
Spectrum Brand Holdings, Inc. (NYSE:SPB) is said to be in final discussions to purchase a business that produces door locks and bath fixtures for Stanley Black & Decker, Inc. (NYSE:SWK). The talks apparently are trumping Apollo Global, who was a rival for the unit. SWK put its hardware and home-improvement division up for sale earlier in 2012; such a transaction could bring approximately $1.5 billion.
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