JTWO.L Share News (JTWO)

By Svea Herbst-Bayliss

March 20 (Reuters) - Former Newell Brands Inc boarddirector Martin Franklin, who teamed up with activist hedge fundStarboard Value LP to challenge the U.S. maker of Sharpiemarkers and Rubbermaid containers, told Reuters on Tuesday he isconsidering acquiring some of its assets.

Franklin could buy the Newell assets though a blank-checkacquisition vehicle called J2 Acquisition Limited,which raised $1.25 billion in an initial public share offeringin London last year, he said in an interview.

"We are literally on the hunt and we will look at some ofthe Newell assets. I know those assets well and why shouldn't welook at them. Our money is as green as anyone else's," Franklinsaid.

Newell said on Monday that assets sales could help bring inapproximately $10 billion of after-tax proceeds. The NewJersey-based company has been seeking to overhaul itself from ahybrid holding-and-operating company to a more focused operator,with an increased emphasis on higher-margin operations such asonline sales.

Newell did not immediately respond to a request for commenton Franklin's interest.

Starboard had put forward a 12-member slate to replaceNewell's board, arguing the company had underperformed peers andmismanaged its $15.4 billion acquisition of Jarden Corp fromFranklin in 2016. But on Tuesday Starboard put its proxy conteston hold following an agreement between Newell and Carl Icahnover the board's composition.

"If we can help drive value quickly for the company, I'msure they would welcome it," Franklin said about his plans toreview what may be for sale at Newell. "When the dust settles,we'll have that conversation with the company and Carl," hesaid, adding "I'm sure they would welcome it."

Franklin co-founded Jarden which owned businesses spanningfrom Yankee Candle to Crock-Pot cookware. He founded J2, itsname a nod to Jarden, with Ian Ashken and Jim Lillie. All threemen were on Starboard's slate and withdrew this morning.

"I love the (businesses) that used to be my kids," Franklinsaid when asked about which Newell assets might interest himmost. "If I could get some of my kids back, wouldn't that belovely?"(Reporting by Svea Herbst-Bayliss in Boston; Editing by LisaShumaker)