The Official Journal of the European Union has published on the 13 April the Decision that approves the acquisition of Black & Decker by Stanley Works.

On 12 March 2010, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC)  No 139/2004.

Description of the concentration.

On 2 November 2009, The Stanley Works ("Stanley") and The Black & Decker Corporation ("Black  & Decker") entered into a merger agreement, conditional on receiving regulatory clearances ("the  Proposed Transaction"). Under the Proposed Transaction, Black & Decker will become a wholly-owned subsidiary of Stanley. Stanley is a worldwide manufacturer mainly of hand tools and  engineered solutions for industrial, construction, do-it-yourself (DIY) use, and security solutions for  commercial applications.

Stakeholders.

• The Stanley Works (NYSE: SWK)  is a global tool manufacturer supplying mainly hand tools, security solutions for commercial applications and engineered solutions for industrial, construction, do-it-yourself (DIY) use.
• The Black & Decker Corporation (NYSE: BDK) is a worldwide manufacturer focussing on power tools and accessories, hardware and home improvement products, and fastening and assembly-based systems.

Conclusions of the EC services.

The market investigation showed that the products offered by the parties do not compete closely with each other and that the combined entity would continue to face several strong competitors with significant market shares.
The Commission's investigation also found that the merged entity would not have the ability nor the incentive to close off rival manufacturers from the market through its increased product portfolio, as it will continue to face significant competition and customers retain ample sources of supply.

The Commission therefore concluded that the proposed concentration would not raise competition concerns.