Danaher Corp and Cooper Industries said they will sell their hand and power tools joint venture, Apex Tool Group, to Bain Capital for about $1.6 billion.Danaher and Cooper each own a 50 percent stake in Apex, which makes Crescent wrenches, Lufkin measuring tapes and hand tools for Sears Holdings Corp's Craftsman brand.Danaher and Cooper, which is in the process of being acquired by Eaton Corp for $11.8 billion, formed Apex by combining their tool businesses.Apex's annual revenue is about $1.5 billion, according to its website. The joint venture was formed in July 2010 and employs about 8,000 people across 30 countries.
Danaher Corporation (Danaher) designs, manufactures and markets professional, medical, industrial and commercial products and services. Shares of DHR remained unchanged at $55.43. In the past year, the shares have traded as low as $43.69 and as high as $57.15. On average, 2973320 shares of DHR exchange hands on a given day and today's volume is recorded at 0.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD remained unchanged at $58.90. In the past year, the shares have traded as low as $28.89 and as high as $85.90. On average, 957060 shares of SHLD exchange hands on a given day and today's volume is recorded at 0.
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