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…