On March 12, 2010, The Stanley Works completed the acquisition of The Black & Decker Corporation for approximately US$4.5 billion. Under the terms of the deal, Black & Decker shareholders received 1.275 shares of Stanley Works common stock for each share of Black & Decker common stock they held.
The Stanley Works has been renamed Stanley Black & Decker. In the combined entity, former Stanley Works shareholders own an approximate 50.5 per cent stake and former Black & Decker shareholders own an approximate 49.5 per cent stake.
The combined company has retained its corporate headquarters in New Britain, Connecticut, with the Power Tools headquarters remaining in Towson, Maryland.
The Stanley Works is a worldwide supplier of quality tools and engineered solutions for industrial, construction and do-it-yourself use, and security solutions for commercial applications.
The Black & Decker Corporation is a global manufacturer and marketer of quality power tools and accessories, hardware and home improvement products and technology-based fastening systems.
The Stanley Works was represented in the US by Michael Schler and Eric Hilfers (tax); Elizabeth Grayer and Robert Townsend (litigation); Katherine Forrest and Jessica Selb (antitrust) and Mark Greene (M&A) of Cravath, Swaine & Moore LLP; and in Canada by Lawson Hunter, QC, Michael Kilby and Ashley Weber (regulatory/competition) of Stikeman Elliott LLP. The Stanley Works was also represented in Europe by Kyriakos Fountoukakos, Adrian Brown and Jonathan Scott (competition) of Herbert Smith LLP.
The Black & Decker Corporation was represented by Glenn Campbell, Elizabeth Donley, Henry Kahn, Bob Zapata, Lauren Dougherty and Stacey McEvoy (M&A); William Neff (employment); Scott Reisch (environmental) and Lynda Marshall and Catriona Hatton (antitrust) of Hogan & Hartson LLP, and by Robert Cattaneo and Christopher Johnson (M&A) and Thomas St. Ville (employment) of Miles & Stockbridge P.C.; and in Canada by George Addy and Elisa Kearney (regulatory/competition) of Davies Ward Phillips & Vineberg LLP.
David Schwartzbaum of Latham & Watkins LLP acted as legal advisor to Deutsche Bank and Goldman Sachs.
Paul Kingsley and Andrew Delia (M&A) of Davis Polk & Wardwell LLP acted as legal advisors to J.P. Morgan Securities Inc.