Helen of Troy Limited (HELE) Board Rejects $37-per-Share Cash Proposal

Helen of Troy's board rejected a $37-per-share takeover proposal from Spectrum Brands, according to a late Thursday statement. The company did not provide further details on the decision.

Spectrum's (SPB) Empower Brands, co-owned by Oaktree Capital, urges Helen of Troy (HELE) to initiate takeover discussions. Empower offers to sign a non-disclosure agreement.

Spectrum Brands Holdings, Inc. (SPB) filed an SEC Form 8-K — Other Events. Exhibit 99.1 Empower Brands Issues Open Letter to Helen of Troy Shareholders Posts Presentation Outlining HELE’s History of Unsuccessful Strategic Resets, Raising Concerns About Its Ability to Deliver Shareholder Value as a Standalone Entity Remains Willing to Engage Constructive

Empower Brands proposed to acquire Helen of Troy for $37.00 per share, valuing the company at approximately $1.6B. Helen of Troy rejected the offer on November 4, 2026, but Empower remains open to dialogue, according to the company.

Helen of Troy (HELE) rejected a $37 per share takeover bid from Empower Brands, citing its fiduciary duties. The offer was framed as providing immediate cash value at a premium. HELE stock surged, gaining 73% year-to-date, with retail sentiment turning bullish. Empower cited HELE's declining share price and leadership changes as reasons for the bid.

Helen of Troy's board rejected a $37/share cash acquisition proposal from Empower Brands, citing greater long-term value in its standalone plan. No tender offer has commenced. The company's shares may be affected by this development.