Spectrum Brands: 50% Upside If The Deal Gets Done

SPB stock has been hammered for good reason. But this Special Situation deserves a closer look.

TLDR

• Spectrum Brands has a deal in place to sell a key business unit for gross proceeds equal to nearly 90% of its current enterprise value.

• Regulatory fears have led investors to largely discount that agreement.

• But both parties seem intent on satisfying regulatory requirements, and even without the deal, SPB is getting in the range of fair value.

• Risks ab…