COMPANIES Stanley Works has agreed to purchase of Black & Decker for $4.5bn in an all-stock tie-up uniting two American household brands.
Stanley, whose hand tools have been a ubiquitous presence in US hardware stores for more than a century, will pay a 22 per cent premium, based on Friday’s close, to purchase Black & Decker’s equally well known line of drills, screwdrivers and other power tools.
