Stanley Black & Decker Inc.’s stock

rose 2% in premarket trade Friday, after the tool maker said it’s selling Stanley Infrastructure to Epiroc AB

in Sweden for $760 million in cash. Stanley Infrastructure is the company’s attachment and handheld hydraulic tools business, which is expected to produce revenue of $450 million to $470 million in fiscal 2023. Proceeds of the deal will be used to pay down debt. The company expects to book a roughly $100 million to $150 million non-cash charge related to the write-down of infrastructure assets. The stock has gained 35% in the year to date, while the S&P 500

has gained 23%.

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