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Black & Decker Sold For $4.5 Billion

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Nov 2, 2009 9:12 pm US/Eastern

Black & Decker Sold For $4.5 Billion

BALTIMORE (WJZ) ― Black and Decker, one of Baltimore's largest companies, has been sold in a $4.5 billion deal.

The Towson-based tool maker is being acquired by Stanley Works. 

The newly merged company will be known as Stanley Black and Decker and will be headquartered in Connecticut. But according to the Baltimore Business Journal, the power tools division will remain in Towson.

Company leaders say most of the 1,250 workers there will retain their jobs.

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