Acquisition Delayed

ASSA ABLOY´s acquisition of the hardware and home improvement (HHI) division of Spectrum Brands, which was announced December 2021, will be delayed. Originally set to close during 2022, ASSA ABLOY continues to resolve U.S. regulator delays. It says, therefore, closing in 2023 cannot be ruled out. The two companies have agreed to extend the acquisition agreement to June 30, 2023, as they both remain fully committed to the transaction and confident that they will obtain all required governmental clearances to complete it.