Herbert Smith's EU Competition division is advising new client The Stanley Works on its proposed acquisition of the Black & Decker Corporation. The transaction, valued at around $4.5 billion, was announced on 2nd November. It brings together two worldwide suppliers of household brands that are best known for the supply of quality hand tools and power tools.
Stanley is a global supplier of quality tools and engineered solutions for industrial, construction and do-it-yourself use, as well as security solutions for commercial applications. The Stanley knife is just one of its many well-known products. Other brands owned by Stanley include Bostitch, Facom and Vidmar. Black & Decker manufactures quality power tools and accessories, as well as home improvement products and fastening systems. Besides the Black & Decker brand, it also owns DeWalt, Porter-Cable and Kwikset.
The Herbert Smith team is advising Stanley on the notification of the transaction to the European Commission for clearance under the EC Merger Regulation. Herbert Smith is also responsible for organising any necessary merger filings in various other territories around the world (outside the US and Canada) and will be instructing local counsel in those jurisdictions where necessary.
The Herbert Smith team straddles the Brussels and London offices. In Brussels, partner Kyriakos Fountoukakos is working with of counsel Adrian Brown and associates Ingrid Bukovics and Dominik Piotrowski. In London, partner Jonathan Scott is being assisted by associate Natalia Sivakumaran.
The Herbert Smith team is liaising closely with Stanley's US competition counsel, Cravath, Swaine & Moore; Katherine Forrest is the lead partner.
Notes to editors
Herbert Smith LLP is an international legal practice with over 1300 lawyers (including over 240 partners) and a network of offices in Europe, the Middle East and Asia. It has a formal alliance with leading German firm Gleiss Lutz and leading Dutch and Belgian firm Stibbe. On 1 April 2005 Herbert Smith became Herbert Smith LLP, a limited liability partnership. www.herbertsmith.com
For further information please contact Tina Bennett in the communications team on +44 (0)20 7466 3917 or tina.bennett@herbertsmith.com