Stanley Works said it will buy the Black & Decker Corp. in a US$4.5 billion merger. The merger will include brand names FatMax, Bostitch, Facom, Proto, Mac Tools, Sonitrol, Stanley Security Solutions, Best, and Vidmar.
The companies’ boards will combine to form a new 15-member board with Stanley Works Chairman and Chief Executive John Lundgren heading up the new company as president and CEO. Nolan Archibald, chairman, president and CEO, of Black & Decker will serve as executive chairman of the new firm for three years.
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