The chief executive of Blick plc, the Swindon security, communication and time management solutions firm has said it is too early to comment on whether yesterday's announcement of a buy-out by US-based firm The Stanley Works will affect jobs at the company.

Vanda Murray said the proposed acquisition by the company represented "a good strategic and commercial rationale."

She added: "They are very keen to buy Blick and make Blick their platform for growth throughout Europe.

"And hopefully we will have access to greater resources and will grow our business in the longer term."

The boards of Stanley Works and Blick announced that they had reached agreement on the terms of a recommended cash offer to be made by investment bank UBS on behalf of SWK (UK) plc to acquire the whole of the issued and to be issued share capital of Blick.

The offer will be made at a price of £3 in cash for each Blick share and values the whole of Blick's existing issued share capital at approximately £93.5 million.

In addition, a special divi-dend equal to six pence per Blick share will be paid in connection with the offer.

Commenting on the offer, John Trani, Chairman and Chief Executive Officer of Stanley said: "We are delighted to have the opportunity to combine our own strengths with Blick.

"As our company shifts its business portfolio, Blick will serve as the centre from which our European security solutions presence expands, both organically and through further acquisitions."

Blick chairman Nick Temple added: "I am pleased we have reached agreement with Stanley for a recommended cash offer.

"Although a market leader in its chosen fields, Blick's markets are increasingly competitive and given the company's size, the board believes that Blick will benefit from the support and resources of a larger organisation."

Blick currently employs more than 900 staff, with 350 based in Swindon.

Stephen Depla, divisional director of Marlborough-based stockbrokers Brewin Dolphin reckons the offer is a sensible one.

He said; "At 300p in cash it is almost 40 per cent above the average closing price of Blick shares for the previous six months.

"As a result of the offer the shares yesterday morning rose to be in line with the offer to 300p to sell.

"Stanley Works has already received, or will receive' undertakings or indi- cations of acceptance, of around 42 per cent of Blick and this means that they are very close to overall control of the group.

"The general sentiment is that acceptance of the offer would be sensible."