By AP/KWMU
St. Louis – St. Louis-based Energizer plans to purchase Playtex for about $1.2 billion as the company that makes batteries, flashlights and razor blades expands its product base.
Energizer Holdings Incorporated is offering $18.30 per share in cash.
The price represents an 18 percent premium over Playtex's closing stock price yesterday.
Both boards of directors have approved the deal. Westport, Connecticut-based Playtex may be best known for the feminine care products that make up 35 percent of its net sales, but the company acquired Hawaiian Tropic in the spring.