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Fly News Breaks for June 15, 2016
SWK
Jun 15, 2016 | 08:02 EDT
Wells Fargo says that a sale of Stanley Black & Decker's (SWK) mechanical locks business to Allegion (ALLE) would be "nicely accretive" to both companies. Wells says the deal could be 7c-25c accretive to Allegion. Stanley, meanwhile, would be able to use the proceeds from such a deal to acquire strategic assets inthe areas of tools, storage, and "targeted industrial verticals," Wells stated. The firm keeps Outperform ratings on both stocks.
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