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Black & Decker
’CDS report: Black & Decker rallies on takeover news
Gavan Nolan of Markit wrote this CDS report
European credit markets widened and stocks declined as investors fretted over the outcome of monetary policy meetings later this week. The Markit iTraxx Europe index was trading around 91bp,
Stanley to buy Black & Decker
Stanley Works has agreed to purchase Black & Decker for $4.5bn in an all-stock tie-up uniting two big US household brands. Stanley, which makes hand tools, will pay a 22% premium, based on Friday’s close,