The deal, the largest in the consumer products sector this year, calls for combining Black & Decker's KwikSet business with Stanley Works' security
business.
"The complementary product and market fit of these two companies creates significant value for both companies' shareholders that neither company can accomplish on a
stand-alone basis," says Black & Decker CEO Nolan D. Archibald. Although both companies have been reeling from the recession, they maintain that higher motives drove the deal. "We serve many of the
same customers, but we serve them very different products," says Stanley Works spokesman Tim Perra. "When we look at it, it's a match made in heaven."
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