Energizer Intervenes in ASR Asset Sale With $300M Bid

Law360, New York (September 28, 2010, 7:42 PM EDT) -- Energizer Holdings Inc. went public with its $300 million bid for American Safety Razor Company LLC on Tuesday as the bankrupt blade manufacturer sought approval of a slightly lower stalking horse bid from senior lenders, citing the specter of antitrust risk the proposed Energizer deal raises.

Energizer, which owns ASR competitor Schick Razors, has been in secret negotiations to purchase ASR since early August, according to testimony from ASR financial adviser Andrew Torgove in a hearing to approve the stalking horse bid in the U.S. Bankruptcy...
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