Sector News

Newell Rubbermaid to acquire Jarden for $15 Billion

December 15, 2015
Chemical Value Chain

Jarden Corp. founder Martin Franklin is selling the company he used for the last 15 years to scoop up dozens of well-known household brands—and stands to collect a $500 million windfall.

Jarden on Monday said it would merge with Newell Rubbermaid Inc. in a $15.4 billion deal, combining names like Newell’s Sharpie markers and Baby Jogger strollers, and Jarden’s Rawlings baseball gloves and Mr. Coffee machines.

Newell will pay the equivalent of $60 for each Jarden share using a combination of cash and stock, representing a roughly 24% premium to where Jarden was trading before The Wall Street Journal reported the companies were in deal talks.

Mr. Franklin, the Boca Raton, Fla., company’s founder and executive chairman, said Jarden is being acquired because it is the smaller of the two companies.

“If we were larger…we would be doing the same deal and be the buyer,” Mr. Franklin said in a joint interview with Newell Chief Executive Michael Polk. While Jarden generated more revenue than its deal partner, Newell Rubbermaid had a higher market capitalization.

Shareholders of Atlanta-based Newell Rubbermaid will end up with 55% of the combined company, which will be named Newell Brands, with $16 billion in annual revenue. Mr. Polk will lead the merged entity.

By Serena Ng and Mark Maremont

Source: Wall Street Journal

Join the discussion!

Your email address will not be published. Required fields are marked *

Related News

November 27, 2020

Ineos and Hyundai announce collaboration surrounding hydrogen economy

Chemical Value Chain

Hyundai and INEOS will jointly investigate opportunities for the production and supply of hydrogen, as well as the worldwide deployment of hydrogen applications and technologies.

November 27, 2020

Partnership to develop AI technologies for industry

Chemical Value Chain

Wood and industrial software company Cognite have partnered to accelerate industrial transformation by creating AI technologies that will allow heavy-asset infrastructure and industry to achieve more connected, sustainable, and data-driven operations.

November 27, 2020

Shell launches ‘blue’ hydrogen technology

Chemical Value Chain

Shell Catalysts & Technologies, which licenses technologies and brings capabilities to market, has launched Shell Blue Hydrogen Process, aimed to significantly increase the affordability of greenfield “blue” hydrogen projects.

Send this to a friend