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Stanley Works and Black & Decker, said on 2nd November 2009, Monday afternoon that they have agreed to merge in an all-stock transaction that they valued at about $4.5 billion.

Stanley is a diversified industrial company that sells hand tools and construction equipment, while Black & Decker is known for its power tools.

The Stanley Works known as  Stanley is a manufacturer of tools and hardware and provider of security products and locks headquartered in New Britain

,Connecticut.

The company was created by the 1920 merger of Stanley’s Bolt Manufactory, founded by Frederick Trent Stanley in 1843, and the Stanley Rule and Level Company, founded by Frederick’s cousin, Henry Stanley, in 1857.

John F. Lundgren was elected as Chairman & Chief Executive Officer in 2004, replacing John Trani, a former protegé of Jack Welch at General Electric.

Stanley is a well-known brand of tools and has produced millions of hand planes, saws, rulers, try squares, chisels, screwdrivers, and many other types of tools for consumer and for industrial use. Their innovations include the Bailey plane, the Surform shaper, the PowerLock tape measure, and the utility knife or in British English, the Stanley knife. Stanley is also a supplier of PoziDriv (improved Phillips lookalike) screwdrivers. Stanley sells industrial and commercial fasteners, air tools, and air compressors under the Bostitch brand.

The Stanley brand name has been widely-licensed to include shoes, clothing and Lawn & Garden Tractors.

Stanley Works received the Golden Hammer Award for new product innovation in 2000, 2001 and 2002 .