Pure Fishing owner said to be in merger talks
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The owner of the world’s biggest fishing tackle manufacturer could be on the brink of a merger.
Jarden Corporation, which boasts the Pure Fishing group of companies within its portfolio, saw its stock market price rise by nearly 4% earlier this week following a report in the Wall Street Journal that it was in merger talks with Newell Rubbermaid, the maker of a wide variety of products including Irwin tools, Parker pens and Rubbermaid food containers.
Newell had a market value of $11.97 billion as of last week’s close, slightly more than Jarden’s market capitalisation of $10.65 billion.
Jarden, which is based in Rye, New York, acquired Pure Fishing, which includes some of the world’s top angling brands, for approximately $400m in April 2007. It added Sébile to its stable in 2011and the iconic UK brand Hardy & Greys in 2014.