Stanley Tool Aquires Black & Decker
November 3, 2009
Stanley Tool and Black & Decker have agreed to a $4.5 Billion all-stock deal combining the two tool makers. Stanley shareholders will hold 9 of the 15 board seats. Both companies have been hit hard by the housing slump as sales in both commercial and do-it-yourself tool categories have suffered.
Job cuts are likely on the horizon for the newly merged company which will be called Stanley Black & Decker, based at Stanley’s offices in New Britain, CT. Small to mid-sized businesses looking to aquire talented purchasers and warehouse workers should be on the lookout.
The third time proved to be the charm as this was the third instance since the 1980’s in which the two companies discussed joining forces.
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