Apollo Global is no longer in talks to buy Stanley Black & Decker’s hardware and home improvement unit, leaving consumer products business Spectrum Brand Holdings in line to clinch the deal.
Reuters reported the news on Friday, citing unnamed sources.
Apollo was previously reported to be among a handful of potential buyers to have submitted bids to buy the company, in a deal that could fetch about $1.5bn.
Goldman Sachs, which is handling the sale, accepted final offers from bidders earlier in September.
Copyright © 2012 AltAssets