There was a deal between the two largest American companies producing tools and equipment: Stanley Works и Black & Decker Corp..
The owners of the two firms, which suffered losses during the crisis, decided to merge, and the shares of the shareholders of the newly formed company will be distributed as follows: Black & Decker shareholders receive 49.5% shares, and Stanley shareholders - 50.5% (Stanley is the buyer in this transaction). The total value of the transaction was $4.5 million.
The name of the new company will be Stanley Black & Decker. A new website of the merged company has already been created, and a press release on the merger has been posted on it.
Shareholders and employees of the newly formed company are counting on a recovery in the construction industry in the near future, and therefore on stable demand for various kinds of tools that both Stanley and Black & Decker were famous for.