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HELEN OF TROY ACQUIRES STAKE IN GENERAL HOUSEWARES.

EL PASO, Texas-Personal care giant Helen of Troy said last week that it had acquired 13.3 percent of the outstanding common shares of kitchenware manufacturer General Housewares Corporation. Helen of Troy called its new stake in the company an "ownership interest."

The purchase was made "for investment purposes with the possibility of increasing its ownership stake under certain circumstances," according to a statement released by Helen of Troy. Officials from Helen of Troy and General Housewares were unavailable for additional comment at press time.

In total, Helen of Troy acquired 536,999 shares of General Housewares, at a price ranging from $13.9 to $20 per share. General Housewares owns Oxo International, the kitchen gadget marketer, and Chicago Cutlery. According to one industry insider, "GHC's stock has gone up in the last few weeks," and there was a report that some of the investors who own GHC were disappointed that GHC turned down offers to be purchased by prospective suitors. Helen of Troy's stocks have not been faring so well: After rising to nearly $20 each, they dropped back down to around 17 1/2 a share, near the same level they were trading at before the announcement last Tuesday.
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Comment:HELEN OF TROY ACQUIRES STAKE IN GENERAL HOUSEWARES.
Publication:HFN The Weekly Newspaper for the Home Furnishing Network
Article Type:Brief Article
Geographic Code:1USA
Date:Jun 28, 1999
Words:201
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