Swedish security group Securitas (SECUb.ST) gained EU approval on Tuesday to purchase hi-tech company Niscayah, which it spun off five years ago. The acquisition of Niscayah, which provides high-tech IT-based security and surveillance solutions, will enhance the world's No. 2 security services firm's competitive edge. Securitas' all-share offer is worth about 5.6 billion crowns. U.S. power tool maker Stanley Black & Decker (SWK.N) made a competing $1.2 billion bid in June. The European Commission, the EU watchdog, said in a statement that the merged entity would continue to face competition. "The investigation showed that price increases are not likely post transaction, in particular because customers would not face difficulties in switching to competing alarm monitoring and response suppliers," the Commission said.
Stanley Black & Decker, Inc. operates in three segments: Construction & Do-It-Yourself (CDIY), Security, and Industrial. Shares of SWK fell by 1.24% or $-0.81/share to $64.62. In the past year, the shares have traded as low as $52.32 and as high as $78.19. On average, 1856940 shares of SWK exchange hands on a given day and today's volume is recorded at 495270.
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