Edgewell Personal Care shares rise after Edgewell backs off bid

Edgewell Personal Care surged by 27.5 percent on Wall Street on Monday after the owner of Schick razors said it would end its US$1.37 billion buyout pursuit for upstart shaving company Harry’s.

Edgewell, the No 2 razor maker in the U.S., behind Gillette, made the decision shortly after the Federal Trade Commission sued to block the sale.-AP