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Stanley Black & Decker Announces U.S. Antitrust Clearance of Acquisition of Niscayah
Posted July 18, 2011
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NEW BRITAIN, Conn.--(BUSINESS WIRE)--Stanley Black & Decker (NYSE: SWK) announced today the expiration of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its previously announced offer to acquire all of the class A and class B shares and warrants of Niscayah Group AB (publ) (OMX: NISC), a leading commercial security and monitoring company specializing in electronic security services and solutions based in Stockholm, Sweden, for SEK 18.00 per share and SEK 0.05 per warrant in cash. All U.S. antitrust conditions to the Offer have now been satisfied.
The Offer represents a premium of approximately 47% compared to Niscayah's closing price1 prior to the announcement of Securitas' offer to acquire Niscayah on May 16, 2011, and a premium of approximately 15% compared to Niscayah's stock price at close on June 23rd, 2011 (the last trading day prior to the announcement of the Offer). At launch, the Offer represented a 24% premium to the then value of Securitas' all-stock offer. The independent committee of the board of directors of Niscayah has unanimously recommended that shareholders and warrant holders in Niscayah accept the Offer. Niscayah shareholders representing approximately 19.5% of the shares in Niscayah have committed to accept the Offer, subject to certain conditions.
Stanley Black & Decker, an S&P 500 company, is a diversified global provider of hand tools, power tools and related accessories, mechanical access solutions and electronic security solutions, engineered fastening systems, infrastructure solutions and more. Learn more at www.stanleyblackanddecker.com.
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