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To: AlienTech who wrote (9327)	5/11/1998 10:54:00 PM
From: Jenna	Respond to of 120523

WINDMERE-DURABLE <WND.N> SEES ACQUISITION ACCRETIVE TO EARNINGS IN 1999 MIAMI LAKES, Fla., May 11 (Reuters) - Windmere-Durable oint Holdings Inc.<WND.N>, a maker of hair dryers and other s trade household appliances, said Monday it agreed to buy Black & Decker Corp.'s<BDK.N> household products line for $315 million in cash. Point stood out in overall quiet trade, rising to The businesses being acquired, including Black & Decker's popular "toaster-oven" toasters, had sales of about $400 million last year, Windmere said. in network security Windmere said the deal, once completed, should boost its annual sales to about $750 million. Windmere, based in Miami ed Lakes, Fla., earned about $20 million, or $1 a share, on sales of $262 million last year. the acceptance of Windows NT as the The companies also reached a licensing agreement allowing Windmere to market cooking and other appliances under the Black & Decker name in North and Latin America, except Brazil, for 6-1/2 years on a royalty-free basis. The licensing deal can be renewed if both companies agree, Windmere said. volume was 3.2 million shares. Windmere Chairman David Friedson said the acquisition will join Black & Decker's leading brand name and reputation for quality with Windmere's strong manufacturing capabilities. Windmere currently makes most of its goods in China. Windmere said it expects the acquisition to add to earnings in 1999. : 98/05/11 17:36 The deal is subject to approval by regulators and is expected to close within 60 days, Windmere said. Windmere stock ended unchanged at $29.375 on the New York Stock Exchange. Black & Decker gained 31 cents to $53.56, also on the NYSE. Black & Decker said in January that it would cut 3,000 jobs and sell the household products business as part of a restructuring. The group includes its cooking, garment care, food preparation and beverage operations. Windmere said it would retain the group's management team in Connecticut, where it is based.