Newell Rubbermaid & Jarden Corp. To Combine - Quick Facts

(RTTNews) - Newell Rubbermaid (NWL) and Jarden Corp. (JAH) announced they have entered into a definitive agreement to combine the two companies. Jarden shareholders will receive, for each Jarden share, $21 in cash and 0.862 shares of Newell Rubbermaid stock at closing. The implied total consideration would be $60 per share.

The transaction creates a $16 billion consumer goods company to be named Newell Brands, which will be led by Michael Polk as Chief Executive Officer. Newell Rubbermaid anticipates incremental annualized cost synergies of approximately $500 million over four years. The transaction is projected to be immediately accretive with strong double-digit normalized earnings per share accretion post synergy realization.