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Wired News – ISS and Glass Lewis Recommend Lifetime Brands’ Stockholders to Vote for Share Issuance Contemplated By Acquisition of Filament Brands

LONDON, UK / ACCESSWIRE / February 13, 2018 / Active-Investors.com has just released a free research report on Lifetime Brands, Inc. (NASDAQ: LCUT) (“Lifetime”). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LCUT as the Company's latest news hit the wire. On February 09, 2018, the Company, which is a leading global provider of kitchenware, tableware, and other products, declared that its leading independent proxy voting advisory firms, Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis have recommended that Lifetime's stockholders should vote in favor of the issuance of the shares of Lifetime's common stock, which is awaited for the completion of the Company's previously announced acquisition of Filament Brands (“Filament”). Register today and get access to over 1000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Lifetime Brands most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

www.active-investors.com/registration-sg/?symbol=LCUT

Advisory Firms' Suggestion Based on Acquisition's Strong Strategic Rationale

ISS' report, dated February 07, 2018, stated that Lifetime's stockholders should vote in favor of the contemplated share issuance. It highlighted that their support for the transaction is warranted based on its sound strategic rationale, potential synergies, and expected strong earnings per share accretion.

Similarly, Glass Lewis' report, dated February 08, 2018, concluded that Lifetime's stockholders should vote for the contemplated share issuance, due to the robust financial and strategic rationale for the transaction.

Acquisition of Filament to Create Additional Value for Lifetime's Stockholders

Lifetime entered into a definitive agreement to acquire Filament, an established category leader and innovator in the housewares industry, in a cash and stock transaction on December 22, 2017.

As a result of the Filament acquisition, Lifetime will own an enhanced portfolio of products with leading positions in key product areas, a diversified customer base with strong partnerships, and a robust product development team and pipeline. Filament brings to the table leading brands such as Rabbit, Chef'n, Taylor, Salter, and Springfield that combine long-standing heritage with best-in-class product development and design. The combination of Filament's marketing and consumer engagement capabilities with Lifetime's expertise in sales, ecommerce, sourcing, and IT infrastructure will position the Company to develop more products for more customers around the world. In fact, the acquisition creates a premier housewares Company, which is expected to have $770 million in net sales, and adjusted pro-forma EBITDA of more than $85 million. Moreover, the Companies expect significant annual cost synergies of approximately $8 million in first year after close.

Jeffrey Siegel, Lifetime's Chairman and Chief Executive Officer (CEO), expressed his pleasure on ISS and Glass Lewis' recommendation for stockholders to vote in favor of the share issuance. He is gratified that the advisory firms have recognized the transaction's sound strategic and financial basis. He believes the Filament acquisition will make Lifetime a stronger Company with increased scale, new sales opportunities, and a world-class leadership team. The transaction closing is expected to be in the first half of 2018. Siegel and his team look forward to creating additional value for all stockholders, customers, and employees through this transaction. He urged all the stockholders to follow the recommendations of ISS and Glass Lewis and vote in favor of the share issuance contemplated by the Filament acquisition.

Voting to be Held at Special Meeting of Stockholders

The voting for the proposed share issuance will be conducted during Lifetime's Special Meeting of Stockholders, which is to be held at Lifetime's office at 1000 Stewart Avenue, Garden City, New York 11530, on February 28, 2018, at 10:30 a.m. (Eastern Time).

With regards to this voting, Lifetime has prompted its stockholders that their vote is important, irrespective of how many Lifetime's common shares they own. In fact, the Board of Directors of Lifetime has unanimously recommended Lifetime's stockholders to vote for the share issuance.

The Company has appointed Georgeson as the proxy solicitor for the forthcoming Special Meeting. Stockholders can contact Georgeson in case of any questions or assistance with regards to voting.

Stock Performance Snapshot

February 12, 2018 - At Monday's closing bell, Lifetime Brands' stock slightly declined 0.60%, ending the trading session at $16.50.

Volume traded for the day: 24.91 thousand shares, which was above the 3-month average volume of 23.81 thousand shares.

Stock performance in the previous six-month period – up 3.45%; and past twelve-month period – up 11.49%

After yesterday's close, Lifetime Brands' market cap was at $237.11 million.

Price to Earnings (P/E) ratio was at 15.67.

The stock has a dividend yield of 1.03%.

The stock is part of the Consumer Goods sector, categorized under the Housewares & Accessories industry. This sector was up 1.8% at the end of the session.

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