Stanley Black & Decker Inc., New Britain, Conn., announced on July 18 the expiration of the mandatory waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for its previously announced offer to acquire all of the class A and class B shares and warrants of Niscayah Group AB, Stockholm, Sweden, for SEK 18 per share and SEK 0.05 per warrant in cash. All U.S. antitrust conditions to the offer were satisfied. EU approval was still pending at the time of writing.
In addition, the Independent Committee of the board of directors of Niscayah unanimously recommended that shareholders do not accept Securitas’ public takeover offer. The board previously made a positive recommendation for Stanley Black & Decker Inc.’s offer.