Shareholders Approve Stanley Works Acquisition Of Black & Decker (SWK,BDK)

3/13/2010- Shareholders approved Stanley Works SWK approximately $3.5 billion stock buyout of Black & Decker BDK.

The two formed a new company called Stanley Black & Decker and is now the largest U.S. toolmaker.

The headquarters will be in New Britain, Connecticut, where Stanley Works is currently headquartered. The company's power tool division headquarters will remain in Towson, Maryland.

Black & Decker shareholders received stock valued at $57.57 for each share. Stanley shareholders own about 50.5% of the combined company and Black & Decker shareholders own the rest.

Write to Chip Brian at cbrian@tradethetrend.com

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