NEW BRITAIN, Conn. — The European Union (EU) has given Stanley Black & Decker the green light for its $1.2 billion offer for systems integrator Niscayah, Hartford Business reports.
Stanley, which is backed by Niscayah’s board of directors, has already received United States antitrust clearance. Competing against Stanley is Securitas AB, which spun off Niscayah in 2006. Securitas placed a $907 million bid to reclaim the integrator in May.
Niscayah, with estimated revenues of $1 billion this year, has until Sept. 1 to accept Stanley’s offer. If approved, the deal will help Stanley globally expand its security products and integration services.
Source: Hartford Business