Key Developments: Spectrum Brands Holdings Inc (SPB.N)

SPB.N on New York Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Spectrum Brands Holdings Inc Declares Quarterly Common Stock Dividend of $0.25 Per Share
Tuesday, 30 Jul 2013 04:00pm EDT 

Spectrum Brands Holdings Inc announced that Board of Directors today declared a quarterly dividend of $0.25 per share on the Company's common stock. The dividend, which is a regular taxable cash dividend, is payable on September 17, 2013 to stockholders of record as of the close of business on August 20, 2013.  Full Article

Spectrum Brands Holdings Inc Declares Quarterly Common Stock Dividend Of $0.25 Per Share
Tuesday, 30 Apr 2013 04:00pm EDT 

Spectrum Brands Holdings Inc announced that Board of Directors declared a quarterly dividend of $0.25 per share on the Company`s common stock. The dividend, which is a regular taxable cash dividend, is payable on June 11, 2013 to stockholders of record as of the close of business on May 14, 2013.  Full Article

Spectrum Brands Holdings Inc Completes Acquisition of Residential Lockset Business of Tong Lung Metal Industry Co. Ltd
Monday, 8 Apr 2013 04:00pm EDT 

Spectrum Brands Holdings Inc announced that it has completed the acquisition of the residential lockset business of Tong Lung Metal Industry Co. Ltd. (Tong Lung), a Taiwanese manufacturer of residential and commercial locksets and related hardware, in connection with Spectrum Brands` accretive cash purchase of the Hardware & Home Improvement Group (HHI) of Stanley Black & Decker Inc on December 17, 2012. The commercial lockset business of Tong Lung will remain with Stanley Black & Decker. A total of $100 million of the $1.4 billion HHI purchase price had been held in escrow until the closing of the Tong Lung portion of the HHI acquisition. The purchase includes the Tong Lung Metal Industry Co. Ltd. name, a major residential lockset manufacturing plant in Subic Bay, Philippines and sales, R&D and engineering operations for tooling and new product development in Taiwan. For the 12 months ended December 31, 2011, the Tong Lung residential business had sales of approximately $48 million, excluding sales to HHI. Tong Lung`s residential OEM and branded lockset sales are primarily to customers in North America, Asia and Latin America. Tong Lung branded products are predominantly sold under its EZSET brand.  Full Article

Spectrum Brands Holdings Inc Reaffirms FY 2013 Revenue Guidance
Wednesday, 6 Feb 2013 04:00pm EST 

Spectrum Brands Holdings Inc announced that for fiscal 2013, it expects net sales to increase at or above the rate of GDP. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $4.153 billion for fiscal 2013.  Full Article

Spectrum Brands Holdings Inc Declares First Quarterly Common Stock Dividend Of $0.25 Per Share
Tuesday, 29 Jan 2013 04:00pm EST 

Spectrum Brands Holdings Inc announced that Board of Directors declared a quarterly dividend of $0.25 per share on the Company`s common stock. The dividend is payable on March 12, 2013 to stockholders of record as of the close of business on February 14, 2013.  Full Article

Spectrum Brands Holdings Inc Completes Acquisition Of Stanley Black & Decker's Hardware & Home Improvement Group
Monday, 17 Dec 2012 04:00pm EST 

Spectrum Brands Holdings Inc announced that it has completed the acquisition of the Hardware & Home Improvement Group (HHI) of Stanley Black & Decker, Inc. for $1.4 billion in cash. A definitive agreement to acquire HHI was announced on October 9. The acquisition of HHI also includes certain assets of Tong Lung Metal Industry Co. Ltd. ("Tong Lung"), a Taiwanese manufacturer of residential and commercial locksets with facilities in Taiwan and the Philippines. The Tong Lung manufacturing assets will provide expanded sales platform capabilities, allowing for accelerated expansion in international markets. The acquisition of the Tong Lung assets is expected to occur during Spectrum Brands' second quarter of fiscal 2013 ending March 31, 2013. $100 million of the $1.4 billion cash purchase price, which was adjusted for net debt and working capital, has been held in escrow until the subsequent closing of the Tong Lung portion of the HHI acquisition.  Full Article

Spectrum Brands Holdings Inc Comments On FY 2013 Guidance
Wednesday, 14 Nov 2012 04:00pm EST 

Spectrum Brands Holdings Inc announced that for fiscal 2013, it expects net sales to increase at or above the rate of GDP, with adjusted EBITDA expected to grow at a higher percentage rate than net sales. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenues of $4.268 billion and EBITDA of $686 million for fiscal 2013.  Full Article

Spectrum Brands Holdings Inc Acquires Majority Interest In Shaser Bioscience, Inc.
Monday, 12 Nov 2012 09:00am EST 

Spectrum Brands Holdings Inc announced that it has acquired a 56% interest in Shaser Bioscience, Inc., a privately held company engaged in developing energy-based, aesthetic dermatological technology for home use devices, for $50 million in cash.  Full Article

Spectrum Brands Holdings Inc's Spectrum Brands Escrow Corp Announces Senior Notes Offering
Wednesday, 31 Oct 2012 01:11pm EDT 

Spectrum Brands Holdings Inc announced that its wholly owned subsidiary Spectrum Brands Escrow Corp. intends to offer U.S. $1,040 million aggregate principal amount of Senior Unsecured Notes (the New Senior Notes) comprised of two tranches that are expected to have a stated maturity in 2020 and in 2022. The principal amount due at each stated maturity, as well as other terms of the proposed offering, are subject to market conditions. The New Senior Notes will be initially issued by Spectrum Brands Escrow Corp., a special-purpose escrow corporation, pending the closing of the acquisition of the Hardware & Home Improvement Group (HHI) of Stanley Black & Decker, at which time the New Senior Notes will be assumed by Spectrum Brands, Inc. (Spectrum Brands) and fully and unconditionally guaranteed by certain of Spectrum Brands’ subsidiaries. Spectrum Brands intends to use the net proceeds from the offering to fund a portion of the purchase price and related fees and expenses for the previously announced and pending acquisition of HHI for $1.4 billion. Spectrum Brands intends to finance the remaining portion of the HHI acquisition, as well as to refinance its existing Term Loan B with New $800 million Senior Secured Term Loans (the New Term Loans). The New Term Loans are also expected to close concurrently with the HHI acquisition.  Full Article

Stanley Black & Decker Inc Enters Into Definitive Agreement To Sell Its Hardware & Home Improvement Group To Spectrum Brands Holdings, Inc.
Tuesday, 9 Oct 2012 07:00am EDT 

Stanley Black & Decker Inc announced that it has entered into a definitive agreement to sell its Hardware & Home Improvement Group ("HHI") to Spectrum Brands Holdings, Inc. ("Spectrum Brands") for $1.4 billion in cash. The transaction, is expected to close by the first quarter 2013. The tax-efficient transaction is expected to generate after-tax cash proceeds of $1.3 billion. Over 50% of the proceeds from this divestiture will be used to repurchase shares and a smaller portion will go towards modest debt reduction, to ensure the Company`s leverage ratios remain in its target range. The Company will reinvest the remaining proceeds, together with existing offshore capital, to fund the previously announced Infastech acquisition, which will significantly add to the Company`s Engineered Fastening growth platform and position in Asian markets.  Full Article

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