Stanley Works ( SWK) filed a tender offer to acquire about 67% of the outstanding shares of Taichung, Taiwan-based tool maker Besco Pneumatic for $42 million in cash. The offer will remain in effect through July 24, at which time Stanley expects Besco to end its status as a public company. Owners of 67% of the outstanding shares have committed to tender their shares in response to Stanley's offer. The deal is expected to close on July 31. New Britain, Conn.-based Stanley said it will have the option to acquire an additional 15% of Besco's outstanding shares over a five-year period. Stanley's Fastening Systems unit, Bostitch, is currently Besco's largest customer and Besco is one of Bostitch's largest suppliers, the company added. Stanley expects the acquisition to be nominally accretive to earnings in 2006 after non-cash inventory step-up charges, and add to earnings by 5 cents to 10 cents a share in 2007 through 2009. ''Besco's brand in Asian markets and its ample Asian manufacturing capacity will facilitate our pursuit of business in emerging markets. This is a key step in the long-term return of our fastening systems business to required levels of profitability," the company said. Besco's reported revenue of about $38 million in 2005. Stanley fell $1.05 to $43.44.