Cleary Gottlieb is representing Barclays, as financial advisor to Jarden Corporation, in its combination with Newell Rubbermaid. Jarden shareholders will receive a combination of cash and shares constituting approximately 45% of the total shares of the combined company. The total value of the deal is approximately $15 billion.
The transaction creates a $16 billion consumer goods company to be named Newell Brands, with a portfolio of leading brands in large unconsolidated categories, including Paper Mate®, Sharpie®, EXPO®, Parker®, Elmer’s®, Calphalon®, Rubbermaid®, Graco®, Baby Jogger®, Aprica®, Goody®, Irwin®, Lenox®, Rubbermaid Commercial Products®, Coleman®, First Alert®, FoodSaver®, Jostens®, K2®, NUK®, Oster®, Rawlings®, Sunbeam® and Yankee Candle®. Subject to shareholder and regulatory approvals, the transaction is expected to close in the second quarter of 2016.