Bain Capital LLC agreed to buy Apex Tool Group LLC, the maker of Craftsman hand tools, from Danaher Corp. and Cooper Industries Plc for about $1.6 billion in its largest deal so far this year.
Danaher expects the sale to the Boston-based private-equity firm to generate after-tax net proceeds of about $650 million and be completed in the first half of 2013, the two companies said Tuesday in a statement. Danaher, based in Washington, and Houston-based Cooper each own 50 percent of Apex.
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