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Newell Brands Shares Jump 3.5% On News To Sell Businesses For $2.5B In Proceeds

by marketwatch.com posted 4months ago 26 views
Newell Brands Inc.'s shares soared 3.5% in premarket trade Wednesday, after the owner of brands including Paper Mate and Sharpie said it is selling its Pure Fishing and Jostens businesses for total proceeds of about $2.5 billion. The company is selling Pure Fishing to private-equity firm Sycamore Partners for $1.3 billion. Pure Fishing sells fishing tackle, lures and rods and owns a portfolio of brands including Abu Garcia. The business had about $556 million of sales in 2017.

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