- Stanley Black & Decker (NYSE:SWK) said it will sell its attachment and handheld hydraulic tools unit, STANLEY Infrastructure to Epiroc AB (OTCPK:EPOKY) for $760M in cash.
- SWK said it plans to utilize the cash proceeds of the transaction, net of modest taxes, to reduce debt.
- The company also said it expects to incur a pre-tax, non-cash charge of ~$100M to $150M related to the write-down of STANLEY Infrastructure net assets.
Stanley Black & Decker to sell its attachment tools unit
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| Symbol | Last Price | % Chg |
|---|---|---|
| SWK | - | - |
| Stanley Black & Decker, Inc. | ||