Stanley and Black & Decker Complete Merger
New Britain, Connecticut, March 12, 2010 The Stanley Works (NYSE: SWK) announced today that it has completed its merger with The Black & Decker Corporation (NYSE: BDK).
We are extremely pleased to announce the combination of these two companies and are both prepared and excited for our future as Stanley Black & Decker, said President and CEO John F. Lundgren. We have made significant strides to this point in laying the foundation for a successful integration and feel certain we have the talent, experience and strategy to achieve our goals.
The combined company will be known as Stanley Black & Decker. Under the merger agreement, each outstanding share of Black & Decker common stock will be converted into 1.275 shares of Stanley Works common stock. The existing Stanley Works shares will remain outstanding and will represent approximately 50.5% of the shares outstanding after the merger. The combined company will trade on the NYSE under the symbol SWK.