Spectrum Brands in $10 Billion Combination With HRG Group

February 26, 2018

Cleary Gottlieb is representing the Special Committee of the Spectrum Brands Board of Directors (the Special Committee), in connection with the announced merger agreement between Spectrum Brands Holdings, Inc. (Spectrum Brands) and HRG Group, Inc. (HRG), a holding company with shares of Spectrum Brands as its principal holding.

As a result of the merger, Spectrum Brands will combine with HRG and HRG’s interest in Spectrum Brands will be effectively distributed among its shareholders. The transaction, valued at $10 billion, has been unanimously recommended by the Special Committee and approved by the Spectrum Brands and HRG boards. It is expected to close by the end of the second quarter of 2018, subject to the satisfaction of customary closing conditions.