Stanley Works-Black & Decker Merger Stays on Track
Product DetailsThe proposed merger between tool manufacturers Black & Decker, Towson, MD, and The Stanley Works, New Britain, CT, continues to make progress, with the deal remaining on track for closing by the end of the first quarter or early in the second quarter, according to Black & Decker CEO Nolan Archibald. The shareholder vote for both companies has been set for March 12.
While specific collaboration is prohibited until the merger closes, integration teams have been put into place to "ensure that we achieve the synergies" available from the joint company, Stanley CEO John Lundgren said during the company's fourth quarter earnings call. Fourteen teams were created to help integrate the various businesses within Stanley and Black & Decker.
"Collaboration to the extent that we've …