TransDigm to Acquire Esterline Technologies in $4 Billion All Cash Transaction
ESTERLINE TECHNOLOGIES (ESL)
Last esterline technologies earnings: 1/31 04:05 pm
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US:NYSE Investor Relations:
esterline.com/investorrelations.aspx
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Source: GlobeNewswire
CLEVELAND and BELLEVUE, Wash., Oct. 10, 2018 (GLOBE NEWSWIRE) -- TransDigm Group Incorporated (NYSE: TDG) and Esterline Technologies Corporation (NYSE:ESL) announced today that they have entered into a definitive agreement under which TransDigm will purchase all of the outstanding shares of common stock of Esterline for $122.50 per share in cash, which represents a premium of 38% to Esterline’s closing price on October 9, 2018, or a total transaction value of approximately $4.0 billion including the assumption of debt. The transaction has been approved by the Boards of Directors of both companies. TransDigm expects the acquisition to be financed primarily through cash on hand and the incurrence of new term loans, and currently anticipates the acquisition to be modestly accretive to TransDigm’s adjusted earnings per share within the first year of ownership. The acquisition of Esterline expands TransDigm’s platform of proprietary and sole source content for the aerospace and defe
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