Stanley Works announced on November 2, 2009 that it agreed to buy Black & Decker Corp. for $4.5 billion in stock, combining two household names in the market for tools.
Both companies' boards approved the deal, which will give Black & Decker shareholders 1.275 shares of Stanley for each Black & Decker share. Stanley shareholders will hold a small majority stake in the combined company, at 50.5%.
A team of Venable attorneys including James J. Hanks, Jr., Patricia McGowan, Carmen Fonda and Brian Field served as Maryland corporate counsel to Stanley. Venable’s role in the transaction was mentioned in the November third edition of the New York Times as well as the publication’s “Deal Book” Blog.