* Energizer says interested in bidding for American Safety
* American Safety Razor calls Energizer "frustrated bidder"
* Sale hearing on Tuesday
By Santosh Nadgir
BANGALORE, Sept 28 A bankruptcy sale hearing
for American Safety Razor Co on Tuesday will most likely be the
venue of a heated legal battle between the company and larger
rival Energizer Holdings Inc (ENR.N).
In a notice filed on Monday, Energizer said it remains
highly interested in participating as a competitive bidder for
bankrupt American Safety Razor and that it intends to be
present at the hearing on Tuesday.
American Safety Razor responded saying that the last minute
notice by Energizer was a flagrant breach of a previously
signed non-disclosure agreement between the two parties.
"Energizer is merely a frustrated bidder and not a party in
interest in the Chapter 11 cases - accordingly, Energizer
should not be heard," American Safety Razor said.
American Safety Razor's current restructuring proposal
involves selling off the company to its first-lien lenders, led
by UBS AG UBSN.VX, for an undisclosed amount.
In the court filing, American Safety Razor claimed that
Energizer had, in a month-long campaign, tried to strong-arm
the company into accepting an inferior bid.
Energizer, which owns Schick razors, was not immediately
available for comment.
Privately held American Safety Razor, which filed for
bankruptcy in July, was hit hard after losing a contract from
Wal-Mart Stores Inc (WMT.N) in 2009.
In addition to razor brands such as Matrix3, M5Magnum,
Solara and Mystique, American Safety Razor makes single-edged
blades used in utility knives and surgical tools. Its shaving
razors are typically sold in drug stores such as Walgreen Co
WAG.N under the store's own brand.
The case is In re: American Safety Razor Co LLC, US
Bankruptcy Court, District of Delaware, No. 10-12351.
(Reporting by Santosh Nadgir in Bangalore; Editing by Roshni