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Newell Rubbermaid, Jarden in talks to combine: Source

Newell Rubbermaid, known for its Sharpie markers and Parker pens, is in talks to combine with consumer products company Jarden, according to a person familiar with the matter who requested anonymity because the negotiations are confidential.

Newell's shares closed up 7.4 percent at $48.16 on Monday and Jarden closed up 3.7 percent at $50.09. Both stocks extended their gains slightly in trading after the bell.

The terms under discussion could not be learned, and it is possible the talks will not lead to a deal, said The Wall Street Journal, which first reported the news.

Newell had a market value of $11.97 billion as of Friday's close, slightly more than Jarden's market capitalization of $10.65 billion.

Jarden Corporation's Coleman brand
Source: Coleman
Jarden Corporation's Coleman brand

A Jarden spokeswoman declined to comment. Newell was not immediately available for comment.

Newell makes writing products as well as household goods under various brands.

Jarden makes household products and appliances under various brands that it distributes to club stores, retailers and wholesalers.

Newell's shares to a more than 16-year high of $50.90 in late afternoon trading.