Shareholders approve Black & Decker, Stanley Works combo to create nation’s largest toolmaker

Shareholders OK Black & Decker, Stanley Works deal

TOWSON, Md. — Black & Decker says its shareholders approved the company’s $3.5 billion buyout by fellow toolmaker Stanley Works, clearing the way for the companies to combine.

In a regulatory filing Friday, Black & Decker says more than 49 million votes supported the acquisition while 473,000 were against it. Stanley Works shareholders also supported the deal.

The acquisition is expected to become effective this afternoon. That’s when the companies will officially combine to form Stanley Black & Decker. They’ll become the nation’s largest tool maker.

Earlier Friday, European regulators approved the deal.