• Financial Times, Tuesday, May 12, 2009 10:30 AM

Missouri-based Energizer Holdings will buy the SC Johnson's Edge and Skintimate shaving brands for $275 million and is launching an offering of 9.5 million shares of common stock in order to fund the deal in cash. If it doesn't complete the offering by June 1, it may pay SC Johnson with a new class of non-voting preferred stock, Julie MacIntosh reports.

Energizer's Schick unit will sign a five-year contract manufacturing agreement with SC Johnson and be given a perpetual license to some of the Edge and Skintimate business' intellectual property.

Best known for its eponymous batteries, Energizer also sells Playtex tampons and Hawaiian Tropic sunscreen.

Procter & Gamble's Gillette is the leading maker of men's shaving creams and gels in the U.S., but Skintimate is the best-selling women's brand, according to Euromonitor.

Read the whole story at Financial Times »