It’s Official: Stanley Purchases 95% of Niscayah
NEW BRITAIN, Conn. — After months of deal-making and regulatory review, Stanley Black & Decker has acquired about 95 percent of systems integrator and monitoring company Niscayah, Bloomberg reports.
Backed by Niscayah’s board of directors, Stanley’s $1.2 billion offer beat out Securitas AB’s $907 million bid. Securitas spun off Niscayah in 2006.
All the conditions of the offer have been satisfied, according to a Stanley press release. Originally, the settlement was expected to start on Sept. 9; however, Stanley has extended the acceptance period to Sept. 23 for shareholders who have yet to submit their acceptance.
Source: Bloomberg
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