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Stanley Black & Decker’s Investment in MTD Products

On September 12, 2018, Stanley Black & Decker announced that it has entered into a definitive agreement to acquire a 20 percent stake in MTD Products Inc (“MTD Products”), a privately held global manufacturer of outdoor power equipment, for $234 million in cash. Under the terms of the agreement, Stanley Black & Decker has the option to acquire the remaining 80 percent of MTD beginning on July 1, 2021. Cravath is representing Stanley Black & Decker in connection with the transaction.

The Cravath team is led by partners Robert I. Townsend III and Thomas E. Dunn and includes associates Matthew G. Jones, Devon A. Klein, Rami Totari, Shawn M. Quinn and Aashim Usgaonkar on M&A matters; partners Stephen L. Gordon and Kara L. Mungovan and associate Cecily Xi on tax matters; partner Matthew Morreale and senior attorney Annmarie M. Terraciano on environmental matters; partner Eric W. Hilfers, senior attorney M. C. Tania Balthazaar and associates Daniel P. Herrmann and Peretz Riesenberg on executive compensation and benefits matters; partner Rachel G. Skaistis and associate Jenny X. Zhang on compliance matters; partner David J. Kappos and associate Jessica M. Goodman on intellectual property matters; and practice area attorney Brian M. Budnick on real estate matters.