Black & Decker Corp. (BDK) and Stanley Works (SWK) announced after the bell Monday that they entered into a definitive merger agreement to create Stanley Black & Decker. The all-stock transaction is valued at approximately $4.5 billion.
Black & Decker gapped open sharply higher Tuesday and rose above the session's range going into the close. Shares finished up by $14.66 at $62.00 on the highest volume of the year. The stock surged to a new high for the year.
Stanley Works gapped up Tuesday and climbed above the day's range late in the afternoon. The stock closed up by $4.54 at $49.69 and broke out to a new high for the year.
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