New Britain tool maker Stanley Black & Decker Inc. received the European Union’s green light, the final regulatory hurdle to Stanley’s $1.2 billion offer for a Swedish commercial security and monitoring company Niscayah Group AB.
Now, Stanley awaits its Sept. 1 deadline to the acceptance period for Niscayah shares it is offering to buy.
Stanley is competing with Securitas AB, another Swedish company, for Niscayah.
The Stanley deal has already been cleared by U.S. antitrust clearance and is backed by Niscayah’s board of directors. Two major shareholders with a combined 19.5 percent stake in Niscayah also favor Stanley’s offer.
With projected revenue of about $1 billion this year, Niscayah would help Stanley Black expand its selection of security products in Europe.
