Shares of Helen of Troy Ltd (NASDAQ:HELE) are trading higher on Wednesday after Empower Brands proposed to acquire the company in a $1.6 billion all-cash deal.
- Helen Of Troy stock is challenging resistance. What’s driving HELE to record levels?
Empower Brands Proposes Helen Of Troy Takeover
Empower Brands, jointly owned by Spectrum Brands Holdings Inc (NYSE:SPB) and Oaktree Capital Management funds, submitted a non-binding proposal to Helen of Troy’s board to acquire the company for $37 per share in cash. The offer represents a 28% premium to the Oct. 30 close and has no financing contingency.
Empower Brands said it has repeatedly tried to engage privately with Helen of Troy’s board about a potential deal. The company first proposed buying Helen Of Troy for $34 per share on Aug. 19, then raised its offer to $37 a share on Oct. 12.
"We believe our all-cash proposal offers Helen of Troy’s shareholders compelling and certain value," said David Maura, chairman and CEO of Spectrum Brands.
Empower Brands said the proposed combination would create a consumer products company with approximately $2.9 billion in annual revenue, complementary brands and greater scale.
HELE Shares Move Higher
HELE Price Action: Helen of Troy shares were up 27.12% at $37.55 at the time of publication on Wednesday, according to Benzinga Pro. The stock is trading at new 52-week highs.
The move came on very heavy volume, with about 710,000 shares traded Wednesday morning, well above the stock’s 100-day average. The stock has now rallied to levels it has not seen since April 2025, extending a months-long rebound.
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