October 22, 2018 / 11:58 AM / a month ago

EU regulators to rule on $2 billion Energizer, Spectrum deal by November 27

The logo for Spectrum Brands Holdings, Inc., is displayed screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., July 6, 2018. REUTERS/Brendan McDermid

BRUSSELS (Reuters) - European Union antitrust regulators will rule by Nov. 27 whether to clear U.S. battery maker Energizer Holdings’ (ENR.N) $2-billion bid for Spectrum Brands’ (SPB.N) battery and portable lighting business.

The company, which makes Energizer and Eveready batteries, sought approval from the European Commission on Oct. 19, a filing on the EU competition regulator’s website showed on Monday.

The Commission can approve the deal with or without demanding concessions or it can kick off a four-month long investigation if it has serious concerns.

Spectrum’s brands include Varta consumer batteries and Rayovac hearing aid batteries. Regulatory authorities in the United States and Australia have approved the deal without conditions.

Reporting by Foo Yun Chee; Editing by Emelia Sithole-Matarise

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