In a deal announced today, Stanley Works is buying Black & Decker for $4.5 billion. And Stanley Works CEO, John Lundgren is being named CEO of the combined company. According to the companies, the deal views the housing market in a comeback stage and the DIY and construction markets in a lagging position.
The merge is good news for the folks at Stanley's headquarters in New Britain, Connecticut where the combined company will be based, and bad news for headquarters employees at B&D in Towson, MD where the companies have stated most job cuts would be based.
While both tool manufactures, the companies have little overlap in product lines and expect regulatory and and shareholder approval shortly.
This was a huge tool purchase. Here is my question: What was your largest tool purchase and was it a good investment?