As people might know, Edgewell Personal Care’s (EPC) share price has seen quite a bit of a decline on Thursday. The reason for this is a deal between Edgewell and Harry’s that that reached a conclusion. Edgewell has bought the shaving startup company Harry’s for $1.37 billion in both cash and stock.
Somewhere close to 79% of the deal will be paid in cash, while the remaining 21% will be paid in Edgewell common stock, which translates into Harry’s shareholders owning about 11% of Edgewell after the full completion of the transaction. The transaction is expected to be fully completed by the end of the first quarter 2020. In the meantime, Edgewell shares have lost 9.8% of their value, and reached $35.92 on Thursday.