TransDigm completes tender offer for Aerosonic
Aircraft parts maker TransDigm completes tender offer for Aerosonic in $39M deal
CLEVELAND (AP) -- TransDigm, a maker of parts for commercial and military airplanes, has completed its tender offer for another aircraft parts maker, Aerosonic.
TransDigm Group Inc. announced in late April that it was buying Aerosonic Corp. in a deal worth about $39 million. Based in Clearwater, Fla., Aerosonic makes airspeed indicators, stall warning systems and other parts for business jets, helicopters and military aircraft.
Cleveland-based TransDigm said Wednesday that it paid $7.75 per share for each share of Aerosonic. About 3.6 million shares, or 88 percent of Aerosonic's outstanding stock, was sold to TransDigm.
TransDigm's shares fell 79 cents to $146.97 in Wednesday morning trading, while Aerosonic gained 1 cent to $7.74.
