Stanley Black & Decker Offers $1.2B To Acquire Niscayah

Stanley Black & Decker Inc SWK has offered to buy all of the outstanding common stock and warrants of Niscayah AB NSYHF for $1.2 billion, including debt. The offer represents a 47% premium to Niscayah's closing price before the offer on May 16 and a 15% premium to Niscayah's closing price on June 23. The independent committee of Niscayah's Board has recommended that shareholders and warrant holders accept the offer, Stanley Black & Decker reported. Stanley Black & Decker's President and Chief Executive Officer, John F. Lundgren, said, “Our offer to acquire Niscayah is consistent with our strategy to build on our attractive growth platforms and create value for Stanley Black & Decker shareholders. Niscayah is a company we know well and is an ideal fit with our Convergent Security Solutions business as it brings complementary geographic strength and services, affords substantial synergies, strengthens our customer value proposition and enhances our growth potential in the highly attractive commercial security sector. We are providing all Niscayah shareholders the opportunity to receive an all-cash, superior offer at a significant premium, and we are very pleased to have the unanimous recommendation of the independent committee of Niscayah's board and the support of two major shareholders.” SWK shares fell 2.50% to close at $69.28 on Friday. Read more from Benzinga's Company news.