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.