American Safety Razor stalled asset sale gets push from Merrill Lynch

By Lisa Kerner

Charlotte, N.C., Feb. 15 - Merrill Lynch Capital Services, Inc. wants the court to enforce its order authorizing the sale of American Safety Razor Co., LLC's assets to Energizer Holding, Inc. for $301 million, according to a Feb. 15 filing with the U.S. Bankruptcy Court for the District of Delaware.

A hearing is set for March 10.

Energizer has refused to pay a $4.9 million termination fee to Merrill Lynch in relation to a swap agreement, stalling the sale, the filing said.

American Safety Razor, a Cedar Knolls, N.J.-based producer of shaving, medical and industrial blades, filed for bankruptcy on July 28, 2010. The Chapter 11 case number is 10-12351.

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