Tool Giants Stanley, B&D Merge In $4.5B Deal

Law360, New York (November 2, 2009, 6:39 PM EST) -- The Black & Decker Corp. and The Stanley Works have agreed to merge into an $8.4 billion company as part of an all-out stock deal worth about $4.5 billion, the tool companies said Monday.

The Stanley Works will own the majority of the merged company: 50.5 percent compared to B&D's 49.5 percent.

B&D's shareholders, in turn, will receive 1.1275 shares of Stanley Works common stock for every B&D share of stock that they own, at an implied premium of 22.1 percent based on B&D's Friday stock...
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