Rockwell Collins, a global leader in high-integrity solutions for aerospace and defense, and B/E Aerospace, a leading manufacturer of aircraft cabin interior products, have entered into a definitive agreement under which Rockwell Collins will acquire B/E Aerospace for approximately US$6.4bn in cash and stock, plus the assumption of US$1.9bn in net debt. Under the terms of the agreement, each B/E Aerospace shareowner will receive total consideration of US$62.00 per share, comprised of US$34.10 per share in cash and US$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. The transaction combines Rockwell Collins’ capabilities in flight deck avionics, cabin electronics, mission communications, simulation and training, and information management systems with B/E Aerospace’s range of cabin interior products, which include seating, food and beverage preparation and storage equipment, lighting and oxygen systems, and modular galley and lavatory systems for commercial airliners and business jets. The acquisition significantly increases Rockwell Collins’ scale and diversifies its product portfolio, customer mix and geographic presence. On a pro forma basis, Rockwell Collins would have nearly 30,000 employees, US$8.1bn in revenues and US$1.9bn in EBITDA for the twelve months ending September 30, 2016.
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[email protected]
Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada