Brussels, 15/03/2010 (Agence Europe) - On Friday 12 March, the European Commission gave its clearance for the proposed acquisition of Black & Decker Corporation by The Stanley Works, both tool manufacturers of the USA.
After examining the proposal, the Commission concluded that the parties are active in different product markets. While Stanley makes mostly hand and pneumatic tools, Black & Decker's strength is in electric power tools, and the overlaps between companies are therefore limited. 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 have neither 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 will retain ample sources of supply. The Commission therefore concluded that the proposed concentration would not raise competition concerns within the European Economic Area. (O.L./transl.jl)