stanley works

Stanley Works is buying rival Black & Decker Corp. for $4.5 billion, the two companies said Monday, bringing together mammoth brands in the toolmaking business.

Black & Decker (NYSE: BDK) 21.2% HIGHER; Stanley Works has agreed to acquired Black & Decker in a merger that will create an $8.4 billion global industrial leader in an all-stock transaction valued at $4.5 billion.

The merger has caused a 20 percent jump in the stock price for Black & Decker in the after-hours market. Click here for the full report.