In March, I highlighted the potential of Prestige Brands Holdings (NYSE:PBH) as a solid play with minimal downside risk. I even discussed the company's potential as an attractive takeover candidate. Since that time, Prestige Brands has announced two acquisitions that are game changers, making the company even more attractive. Mr. Market certainly likes the news, as shares are up over 21% since I last covered Prestige.
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Hydralyte acquisition doubles the company's business in New Zealand and Australia
On April 15, Prestige Brands announced that it was acquiring Hydralyte in New Zealand and Australia. The acquisition will double the revenues of Prestige's businesses in the region to AUD $50 million. It is expected to...
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