Stanley/Niscayah deal clears one anti-trust hurdle

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07/22/2011

A couple updates on the Stanley Black & Decker offer for Niscayah  from the earnings call this week. Stanley EVP and COO James Loree, said “the mandatory waiting period under Hart-Scott-Rodino expired, so the U.S. has given us the green light for the transaction as it relates to antitrust. EU approval is still pending.” (quotes in this blog are courtesy of Seeking Alpha.) Loree said Stanley expects to get EU approval this week. The next step is a 30-day waiting period during which time shareholders can tender that shares. If 90 percent of shares are tendered, “the offer will go unconditional, and we'll close shortly thereafter.”

I have a call into investor relations at Stanley, but haven’t heard back yet.