Stanley Black & Decker to buy Newell’s tools unit

Posted online October 12, 2016 | 11:24 am

Stanley Black & Decker Inc. agreed to purchase Newell Brands Inc.’s tools business for $1.95 billion.

Newell Brands, which recently completed a $15 billion merger with Jarden Corp., is seeking to sell about 10 percent of its portfolio.

Newell plans to use the proceeds to pay down debt. The deal is expected to close in the first half of 2017.

Read more from The Wall Street Journal.

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