Spectrum Brands (SPB) announced that it is more committed and confident than ever that it will complete the sale of its Hardware and Home Improvement segment, or HHI, to Assa Abloy (ASAZY). On September 8, 2021, Spectrum Brands announced an agreement to sell HHI to Assa Abloy for $4.3B in cash, subject to customary adjustments. On September 15, the United States Department of Justice, or DOJ, filed a meritless lawsuit to block the closing of the HHI sale. On December 2, Assa Abloy announced an agreement to sell its Emtek and the Smart Residential Business in the U.S. and Canada to Fortune Brands, a strong and experienced player in the home hardware and security markets.
Published first on TheFly
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