Energizer's Bid For American Safety Razor OK'd

Law360, New York (September 30, 2010, 7:10 PM EDT) -- A bankruptcy judge ordered American Safety Razor Co. LLC to allow Energizer Holdings Inc.’s $300 million bid for the company Thursday, over lenders' concerns that its ownership of ASR's competitor, Schick, makes it a possible antitrust target.

Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware denied ASR’s motion to approve a $244 million debt-for-equity sale to first lien lenders, ruling that Energizer’s bid, even with its acknowledged antitrust risk, posed no harm to the debtor’s estate and should be allowed...
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