Spectrum, CVC Said in Advanced Talks to Buy BaByliss Owner (1)

Spectrum Brands Holdings Inc. and private equity firm CVC Capital Partnersare in advanced talks to acquire hair-dryer maker Conair Corp., according to people with knowledge of the matter.

The deal could value Stamford, Connecticut-based Conair at about $2 billion, the people said, asking not to be identified because the information is private. The suitors aim to reach an agreement within weeks, though negotiations could still fall apart, the people said.

Spectrum shares gained as much as 2.2% in Friday trading. They were up 1.2% at 9:47 a.m. in New York, giving the company a market value of $3.5 billion ...