Cleary Gottlieb is representing Stanley Black & Decker in its offer to acquire all of the outstanding common stock and warrants of Niscayah, a leading commercial security and monitoring company specializing in electronic security services and solutions based in Stockholm, Sweden, for SEK18.00 per share in cash. The total transaction value, including assumed financial debt, would be SEK7.6 billion (USD$1.2 billion). The independent committee of Niscayah’s Board has unanimously recommended that Niscayah shareholders and warrant holders accept the offer. Niscayah shareholders representing approximately 19.5% of Niscayah shares have committed to accept the offer under certain conditions. The transaction is expected to close in September 2011. In May, Securitas AB had launched an offer to acquire Niscayah.
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