Spectrum Brands Holdings Inc, the maker of Rayovac batteries and other consumer products, said it will purchase a unit of Stanley Black & Decker Inc that makes door locks and bath fixtures for $1.4 billion.The deal will give Spectrum brands such as Kwikset and Price Pfister, adding to its portfolio that includes Remington shavers and George Foreman grills. The company already sells small home appliances under the Black & Decker brand.The deal will add between 75 cents and 80 cents per share to Spectrum's pro-forma earnings in 2013, rising to more than $1.00 per share in 2014, the company said in a statement.Stanley Black & Decker makes hardware, hand and power tools and industrial equipment. The company was created in 2010 through a $4.5 billion merger that combined Stanley's black-and-yellow hand tools with Black & Decker's power tools.
Spectrum Brands Holdings, Inc. is a consumer products company. Shares of SPB remained unchanged at $41.16. In the past year, the shares have traded as low as $23.04 and as high as $42.78. On average, 167478 shares of SPB exchange hands on a given day and today's volume is recorded at 3400.
Stanley Black & Decker Inc. is a diversified global provider of power and hand tools, mechanical access solutions (automatic doors, commercial and residential locking systems), electronic security and monitoring systems and products and services for various industrial applications. Shares of SWK remained unchanged at $74.23. In the past year, the shares have traded as low as $55.36 and as high as $81.90. On average, 1729600 shares of SWK exchange hands on a given day and today's volume is recorded at 0.
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