Stanley Works and Black & Decker, two of the biggest names in power and hand tools are to merge to create a US$8.4bn industry giant.
The deal is expected to be completed in the first half of this year, with the new company operating under the name Stanley Black & Decker. Stanley shareholders will own 50.5% of the equity of the combined company and Black & Decker shareholders 49.5%.
Stanley Works iconic brands of Stanley hand tools and Bostitch fasteners and compressors, used in the joinery and timber building trades, will join Black & Decker’s power tool range, which also includes the premium DeWalt brand.
