11/2/2009-Worldwide tool supplier The Stanley Works (NYSE:SWK) and Black & Decker Corporation (NYSE:BDK) announced that they have entered into a definitive merger agreement to create Stanley Black & Decker, an $8.4 billion in an all-stock transaction valued at approximately $4.5 billion. According to terms of the transaction, which has already been approved by both boards, BDK shareholders will receive a ratio of 1.275 shares of Stanley common stock for each share of BDK common stock they own, which represents a premium of 22.1% over Black & Decker's close on Friday. After the deal closes, which is expected to take place at some point during the first half of 2010, Stanley stockholders will own approximately 50.5% of the equity of the combined company and Black & Decker shareholders will own approximately 49.5%.

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