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The acquisition of HHI is conditional upon regulatory approval and customary closing conditions and is now expected to close during 2022.
December 7, 2021
By: DAVID SAVASTANO
Contributing Editor, Coatings World and Ink World
On Sept. 8, 2021, ASSA ABLOY announced it had signed a definitive agreement to acquire the HHI division of Spectrum Brands for a purchase price of $4.3 billion on a cash and debt-free basis. The regulatory process, which was initially communicated to be expected to be finalized during the fourth quarter 2021, is still ongoing and it is now expected that the transaction will close during 2022. “We believe strongly in the acquisition of HHI and I look forward to welcoming HHI and all of its employees into the ASSA ABLOY Group upon closing of the transaction,” said Nico Delvaux, president and CEO of ASSA ABLOY.
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