J.W. Childs to Buy American Safety Razor
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American Safety Razor Co., the maker of Burma-Shave shaving cream, agreed to be bought by J.W. Childs Equity Partners II, a closely held investment company, for $173 million in cash. Verona, Va.-based American Safety Razor, whose founders invented the safety razor in 1875, said Boston-based J.W. Childs agreed to pay $14.13 a share for all of its outstanding common stock. That’s a 43% premium to American Safety’s Friday closing price of $9.88 on Nasdaq. American Safety’s products are sold under retailers’ private-label names as well as under such brand names as Gem, Personna and Revlon Perfect Finish.
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