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BLACK & DECKER FILES FOR COMMON STOCK OFFERING AND FOR PUBLIC OFFERING OF PRC

 BLACK & DECKER FILES FOR COMMON STOCK OFFERING
 AND FOR PUBLIC OFFERING OF PRC
 TOWSON, Md., March 12 /PRNewswire/ -- The Black & Decker Corporation (NYSE: BDK) announced today that it has filed a registration statement with the Securities and Exchange Commission for an offering of 18 million shares of Black & Decker common stock.
 Black & Decker said it also intends to grant to the underwriters an option to purchase up to an aggregate of 2.7 million additional shares to cover over-allotments. The offering will be made domestically through an underwriting group to be formed by Lehman Brothers, The First Boston Corporation, and Goldman, Sachs & Co. and internationally through Lehman Brothers International, Credit Suisse First Boston Limited, and Goldman Sachs International Limited.
 The corporation also announced that a registration statement has been filed with the Securities and Exchange Commission for the sale by way of a public offering of the corporation's information systems and services business. The business, operated by Black & Decker as PRC, was acquired as part of the 1989 acquisition of Emhart Corporation. The offering, consisting of all of the shares of common stock of PRC Advanced Systems Inc., will be made domestically through an underwriting group to be formed by The First Boston Corporation, Alex. Brown & Sons Incorporated, and Lehman Brothers and internationally through Credit Suisse First Boston Limited, Alex. Brown & Sons Incorporated, and Lehman Brothers International. The estimated net proceeds of the PRC offering are anticipated to range from $331 million to $363 million (including repayment of certain intercompany indebtedness by PRC).
 The net proceeds of both transactions will be used by Black & Decker to reduce debt.
 Neither offering is contingent upon consummation of the other offering. Each offering is subject to the respective registration statement being made effective by the Securities and Exchange Commission and other conditions.
 Black & Decker is a global marketer and manufacturer of quality products used in and around the home and for commercial applications.
 /delval/
 -0- 3/12/92
 /CONTACT: Barbara B. Lucas, v.p.-public affairs of Black & Decker, 410-583-2980/
 (BDK) CO: Black & Decker Corporation ST: Maryland IN: HOU SU: OFR


KA -- PH010 -- 7727 03/12/92 11:05 EST
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Publication:PR Newswire
Date:Mar 12, 1992
Words:357
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