TransDigm to pay $1.4 billion in cash to buy CPI's electron device business from
TransDigm Group Inc. (TDG) announced Thursday an agreement to buy the Electron Device Business from TJC L.P.'s Communications & Power Industries for $1.39 billion in cash. The EDC makes components and subsystems for the aerospace and defense markets. The deal, which is expected to close in Transdigm's fiscal third quarter (ending June) of 2024, will be funded through existing cash and new long-term debt. Shares of the aerospace components maker, with a $49.4 billion market-capitalization were still inactive in premarket trading. They have run up 42.2% year to date, while the S&P 500 has advanced 14.2%.
-Tomi Kilgore
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
11-09-23 0627ET
Copyright (c) 2023 Dow Jones & Company, Inc.-
Six Sports Betting and iGaming Stocks Trading at a Discount
-
4 Predictions for Stocks and the Economy for the Second Half of 2024
-
What Broadening Rally? AI Stocks Dominate Again In Q2
-
After Earnings, Is Nike Stock a Buy, a Sell, or Fairly Valued?
-
Worst-Performing Stock ETFs of the Quarter
-
Top-Performing Stock ETFs of the Quarter
-
Q2 In Review and Q3 2024 Market Outlook
-
5 Stocks to Buy for 3Q 2024
-
Industrials: Sector Offers Investment Opportunities as Performance Lags Broader Market
-
Consumer Defensives: Even Amid Macro Pressures, Deals Permeate the Landscape
-
33 Undervalued Stocks
-
Utilities: Can the Stocks Keep the Rally Going?
-
Basic Materials: Following Index Decline, We See Many Long-Term Opportunities
-
Healthcare: Valuations Look Attractive In Most Industries
-
Financial Services: Amid Uncertainties, We See the Most Value In Banks and Credit Services
-
Consumer Cyclicals: Even With Anxiety Over Spending, We See Attractive Valuations