The maker of Schick razors abandoned plans to buy rival Harry’s, a week after the FTC sued to block the $1.37 billion deal
Chris WackThe maker of Schick razors said Monday it has abandoned plans to buy upstart rival Harry’s Inc., a week after the Federal Trade Commission sued to block the $1.37 billion deal.
Shares of Edgewell Personal Care Co. rose more than 21% in premarket trading. Investors had been wary of the deal due to the multiple Edgewell agreed to pay for Harry’s, which was growing quickly but losing money.
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