Schick Razor Maker Edgewell’s Shares Leap on Rejected Offer

Edgewell Personal Care Co. rejected an unsolicited takeover offer from Yellow Wood Partners on Tuesday, causing its shares to surge nearly 18% in New York trading. The company, known for its Schick razor brand, did not disclose the value of the offer but stated it was not in the best interest of its shareholders. Edgewell's board of directors unanimously concluded that the offer undervalued the company and its strategic prospects. Yellow Wood Partners, a Boston-based private equity firm, had reportedly made the offer earlier in the week. Edgewell, which also owns brands like Wilkinson Sword and Banana Boat, has been focusing on its "Project Accelerate" strategy to drive growth and profitability. The company's stock closed at $38.70 on Tuesday, reflecting the market's positive reaction to the rejection of the bid.