Energizer (ENR) And Spectrum Brands Surged On Deal Progress

The previously announced acquisition of Spectrum Brands' (SPB) battery and lighting products business by Energizer Holdings (ENR) took a step closer to completion Thursday after the Federal Trade Commission allowed the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 to expire.

Energizer gapped up sharply Thursday and climbed in early trade, before profit taking set in. The stock ended the day with a gain of 6.55 at $59.58 and set over a 2-month high.

Spectrum Brands gapped up sharply Thursday and rose steadily during the first half of the session. The stock closed up by 13.58 at $103.70.

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