Sonaca Group To Acquire LMI Aerospace, Inc.
LMI Aerospace, Inc. (NASDAQ: LMIA) has entered into a definitive agreement to be acquired by Sonaca Group, a global aero-structures company. LMI is a leading supplier of structural assemblies, kits, and components and provider of engineering services. Under the transaction, Sonaca hopes to create a combined global leader in design and manufacturing capabilities of complex aero-structures. According to Dan Korte, LMI’s CEO, “…LMI and Sonaca have complementary product portfolios while largely serving different aerospace primes and Tier 1 suppliers around the world, enabling us to better serve our customers”.
Under the transaction, LMI shareholders will receive $14 per share in an all-cash transaction. This represents a 52 percent premium over LMI’s closing share price as of February 16th. In connection with the merger agreement, Sonaca has obtained debt and equity financing commitments. The deal is expected to close mid-2017.
Read the full press release at www.lmiaerospace.com
Below are highlights of additional Merger and Acquisition activity from the last week:
Minnesota M&A News: The previously announced M&A transaction involving Vascular Solutions and Teleflex was approved by shareholders on February 16. The plan of merger was originally announced on December 1, 2016 and officially closed on February 17. Vascular Solutions (NASDAQ: VASC) ceased trading following February 17 close.
Read more at www.teleflex.com
Packaging M&A News: On February 16, Sonoco (NYSE: SON), one of the largest diversified global packaging companies, announced it has entered into a definitive agreement to acquire Peninsula Packaging Company for approximately $230 million in cash.
Read more at www.sonoco.com
Manufacturing M&A News: On February 16, Nordson Corporation (NASDAQ: NDSN) announced it has acquired InterSelect GmbH, a German designer and manufacturing of selective soldering systems.
Read more at www.nordson.com
