October 6, 2022

Assa Abloy postpones Spectrum home improvement business acquisition again

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An Assa Abloy lock is displayed in a shop in Riga, Latvia September 19, 2013. REUTERS/Ints Kalnins

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HELSINKI, July 15 (Reuters) – Swedish lock maker Assa Abloy (ASSAb.ST) on Friday said its planned acquisition U.S.-based Spectrum Brands’ home improvement division could be delayed to 2023 due to regulatory concerns, instead of being completed during this year.

The prolonged regulatory process had already postponed the deal in December last year.

The acquisition was announced last year when Assa, the world’s biggest lockmaker, said it would pay $4.3 billion for the business. read more

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Reporting by Essi Lehto, editing by Anna Ringstrom and Stine Jacobsen

Our Standards: The Thomson Reuters Trust Principles.



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