Rayovac sale bumps up stock of Spectrum Brands, Energizer Holdings

Spectrum Brands Holdings is selling its Rayovac battery business to competitor Energizer Holdings as part of a transaction including Spectrum’s entire business cluster for batteries and lighting. This $2 billion deal comes about two weeks after Spectrum had announced it would sell the Rayovac battery business in 2018. In a release, Spectrum says it will use the cash proceedings to reduce debt, rei...