TransDigm Group Incorporated (“TransDigm”) TDG and Aerosonic
Corporation (“Aerosonic”) AIM today announced a definitive merger
agreement, providing for Aerosonic to become an indirect wholly-owned
subsidiary of TransDigm. TransDigm and Aerosonic both design, manufacture and
supply highly engineered aircraft components.
Under the terms of the agreement, TransDigm will offer to acquire all of the
outstanding shares of Aerosonic for $7.75 per share in cash in a transaction
valued at approximately $39 million on a fully-diluted basis. The cash
consideration represents a premium of approximately 59.8% to Aerosonic's
closing share price on April 19, 2013, and a 77.8% premium to its average
trading price over the trailing 60 days. The transaction will be funded with
TransDigm's cash on hand and is not subject to any financing condition.
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