3. The transaction was expected to result in nearly 4,000 layoffs. How much of the total value of the mergers projected synergies are from this workforce reduction? Assume that Black & Deckers employment cost is similar to the December 2009 national average of $39.13 per hour worked, including both wages and benefits.

$95 million

4. How will the value of the synergies be shared in the proposed transaction?

a. How much of the incremental value will go to Stanley? How much will go to Black & Decker?