Sears (SHLD) Shares on Watch as Stanley Black & Decker (SWK) Moves to Buy Newell's Tool Assets

October 12, 2016 7:53 AM EDT

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Sears Holdings (Nasdaq: SHLD) shares will be on watch today following news that Stanley Black & Decker (NYSE: SWK) entered into a definitive agreement to acquire the Tools business of Newell Brands (NYSE" NWL) for $1.95 billion in cash. Speculation last week had Stanley Black & Decker, among others, was interested in Sears' Craftsman brand.

In premarket trading Wednesday, Sears shares are flat.

For more color on the deal, click here.

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