Summary
TransDigm Group Incorporated (TDG) announced on April 22, 2013, a definitive merger agreement to acquire Aerosonic Corporation (AIM) in a cash tender offer. The transaction values Aerosonic at approximately $39 million on a fully-diluted basis, with TransDigm offering $7.75 per share for all outstanding shares. This acquisition, if successfully completed, will make Aerosonic an indirect wholly-owned subsidiary of TransDigm. The deal is structured as a two-step process, starting with a tender offer and followed by a back-end merger to acquire any remaining shares not tendered. Investors should note that the tender offer had not yet commenced at the time of this filing, and detailed offer materials would be filed with the SEC.
Key Highlights
- 1TransDigm Group Inc. has entered into a definitive merger agreement to acquire Aerosonic Corporation.
- 2The acquisition will be conducted via a cash tender offer at $7.75 per share.
- 3The total transaction value is approximately $39 million on a fully-diluted basis.
- 4Aerosonic Corporation will become an indirect wholly-owned subsidiary of TransDigm.
- 5The deal involves a two-step acquisition process: tender offer followed by a merger.
- 6The tender offer had not yet commenced at the time of the filing.
- 7An exhibit containing the April 22, 2013 press release announcing the agreement is included.