Stanley Works Black And Decker:SWK Black & Decker Buy
Stanley Works Black And Decker:SWK Black & Decker Buy – Stanley Works (SWK) has purchased Black & Decker Corp. (BDK) for $4.5 billion in stock.The recession pushed the two companies to merge in order to lower the prices of household names tools.Brian Sozzi, retail analyst at Wall Street Strategies said:
The transaction would represent a landmark move in the tools industry and one that makes strong sense as the housing market resumes some growth and raw materials prices rebound.Together the companies have greater purchasing power.
Wall Street is very satisfied with the deal and Black & Decker shares went up 22%, to $57.86, while Stanley shares rose 4.3%, to $47.10.
That’s all we have for now on Stanley Works.