The stock climbed to $24.99 following the news, extending a strong rally that has seen Edgewell shares gain 33% since the start of the year. While the company and Yellow Wood representatives declined to comment on the internal deliberations, the rejection signals a board strategy focused on higher valuations despite the unsolicited interest from the private-equity firm. Edgewell remains a prominent player in the personal care sector, and this rejection underscores the company's current resistance to acquisition at the proposed price point.
In section Market Quotes
Edgewell Personal Care Spurns Takeover Bid from Yellow Wood
A 10% surge in premarket trading greeted investors Tuesday after reports surfaced that the board of Edgewell Personal Care rejected a private-equity buyout bid. The maker of Schick razors reportedly deemed the $30-per-share offer from Yellow Wood Partners insufficient to warrant a formal sale of the company.
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