A $1.8 billion sale gives Stanley Black & Decker room to cut debt

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Stanley Black & Decker (NYSE: SWK) completed the sale of its Consolidated Aerospace Manufacturing (CAM) business to Howmet Aerospace for approximately $1.8 billion in cash. The company expects net proceeds of about $1.57 billion after taxes and fees, which it plans to use for debt reduction and to pursue a more dynamic capital allocation strategy. This transaction is anticipated to help the company achieve a target leverage of around 2.5x net debt to adjusted EBITDA by year-end, sharpening its focus on core businesses.

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