Rockwell Collins to Acquire B/E Aerospace for $8.3 Billion in Total Consideration
CEDAR RAPIDS, Iowa & WELLINGTON, Fla. -- Rockwell Collins (COL), a global leader in high-integrity solutions for aerospace and defense, and B/E Aerospace (BEAV), the world’s leading manufacturer of aircraft cabin interior products, today announced that they have entered into a definitive agreement under which Rockwell Collins will acquire B/E Aerospace for approximately $6.4 billion in cash and stock, plus the assumption of $1.9 billion in net debt.
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Under the terms of the agreement, each B/E Aerospace shareowner will receive total consideration of $62.00 per share, comprised of $34.10 per share in cash and $27.90 in shares of Rockwell Collins common stock, subject to a 7.5% collar. This represents a premium of 22.5% to the closing price of B/E Aerospace common stock on Friday, October 21, 2016.
Read more: B/E Aerospace ( BEAV )
Published: 24 October 2016
Written by Editor