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Electronics Production |
Cobham to acquire Aeroflex
Aeroflex has entered into a merger agreement with Cobham, a UK company that designs and manufactures equipment, specialized systems and components for the aerospace, defense, energy, and electronics industries.
Under the terms of the transaction, Cobham will acquire Aeroflex for USD 10.50 per share in cash. Total transaction value is approximately USD x1.46 billion, including the assumption of Aeroflex’s net debt of USD 540 million at March 31, 2014.
“This all-cash, premium transaction provides significant and immediate value to our stockholders,” said Len Borow, Aeroflex’s Chief Executive Officer. “We believe Aeroflex and Cobham are a natural fit and that Aeroflex will benefit from the larger scale, market presence, and resources of the combined organization. We look forward to working with Cobham to ensure a seamless integration for our teams and customers around the world.”
The transaction, is expected to close during the third calendar quarter of 2014.
