Edgewell Personal Care Company (EPC) was created in July 2015 when Energizer Holdings split off its battery business (as Energizer) and changed its name to Edgewell. Management's theory (and I am sure heavily supported by high priced strategy consultants wearing $5000 suits) was that splitting off the declining battery & lighting products business from the better growth personal care business would unlock value and enable the latter businesses to be valued more highly. The Energizer bunny was thought to be takeover bait.
However, the market is a harsh mistress and the fortunes of