Stanley Works offered to buy it out!
Finally we can revisit this post after the bears have given us so much grief the past week! BDK gets bid!
The selling was so pathetic, it even makes me want to buy Black & Decker (BDK 32.37). Seven days ago the stock was 41. How much of a pullback do you need? After all, Meredith Whitney told us yesterday that retail was the best short on the market. So let me buy something in retail. So I'll buy a beater from Black & Decker, and use that to fend off the hapless bears.
1.25 shares of Stanley Works for each share of BDK--almost $57 a share.
You could get another bidder, but this merger makes sense.
But three takeover bids today? Wow!