Stanley Works (SWK) and Black & Decker (BDK) Pass HSR Review Period
The Stanley Works (NYSE: SWK) and The Black & Decker Corporation (NYSE: BDK) announced today that the Hart-Scott-Rodino antitrust review period for the combination of their businesses has expired.
Stanley and Black & Decker previously announced on November 2, 2009 that they had entered into a definitive merger agreement to combine their businesses in an all-stock transaction.
The expiration of the HSR review period satisfies one of the conditions to the closing of the transaction. The closing of the transaction is also subject to other customary closing conditions, including foreign regulatory approvals and the approval of Stanley and Black & Decker stockholders. Subject to the satisfaction of these other conditions, closing of the transaction is currently expected to occur toward the end of the first quarter or the beginning of the second quarter of 2010.
Stanley and Black & Decker previously announced on November 2, 2009 that they had entered into a definitive merger agreement to combine their businesses in an all-stock transaction.
The expiration of the HSR review period satisfies one of the conditions to the closing of the transaction. The closing of the transaction is also subject to other customary closing conditions, including foreign regulatory approvals and the approval of Stanley and Black & Decker stockholders. Subject to the satisfaction of these other conditions, closing of the transaction is currently expected to occur toward the end of the first quarter or the beginning of the second quarter of 2010.
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