Overlooked Alpha

Overlooked Alpha

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Overlooked Alpha
Overlooked Alpha
Spectrum Brands: 50% Upside If The Deal Gets Done
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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.

Overlooked Alpha
Oct 09, 2022
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Overlooked Alpha
Overlooked Alpha
Spectrum Brands: 50% Upside If The Deal Gets Done
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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…

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