The Stanley Works and The Black & Decker, both worldwide suppliers of power tools and other services, have announced today that they have entered into a “definitive merger” to create Stanley Black & Decker, the companies stated in a press release. The new company will be an “$8.4 billion global industrial leader in an all-stock transaction valued at approximately $4.5 billion,” the press release said.
The companies will hold a joint conference call and live webcast tomorrow, Tuesday, Nov. 3, at 8:30 a.m. EST to discuss the announcement. Dial in at 877.218.1796 with the passcode 38642483, and access the webcast at www.stanleyblackanddecker.com.
An audio replay of the call will be available approximately three hours after the call, through Tuesday, Nov. 17, and can be accessed by calling 800.642.1687 with the passcode 38642483.
“Stanley Black & Decker together will have a comprehensive offering across all major tool categories and great resources to support continued expansion of our combined security and industrial businesses,” stated John F. Lundgren, chairmen and CEO of Stanley, who will be president and CEO of the combined company.
The transaction is subject to customary regulatory approvals and closing conditions, and requires the approval of Stanley and Black & Decker shareholders, the companies added.
More information about the transaction can be found at www.stanleyblackanddecker.com. Read the press release here.–Victoria Markovitz
