Ducommun to be Acquired for $1.4 Billion
Ticker: DCO · Form: 8-K · Filed: Jun 28, 2024 · CIK: 30305
Sentiment: bullish
Topics: acquisition, merger, going-private
TL;DR
Ducommun going private for $1.4B cash deal at $70/share, expected Q4 2024 close.
AI Summary
Ducommun Inc. announced on June 28, 2024, that it has entered into a definitive agreement to be acquired by an affiliate of High Purity Holdings, LLC. The transaction is valued at approximately $1.4 billion, with Ducommun stockholders expected to receive $70.00 per share in cash. The deal is anticipated to close in the fourth quarter of 2024, subject to customary closing conditions.
Why It Matters
This acquisition represents a significant event for Ducommun shareholders, providing them with a substantial cash premium for their shares. It also signals a major consolidation within the aerospace and defense components industry.
Risk Assessment
Risk Level: medium — The deal is subject to customary closing conditions, including regulatory approvals and shareholder consent, which introduces a degree of uncertainty.
Key Numbers
- $1.4B — Transaction Value (Total amount Ducommun Inc. is being acquired for.)
- $70.00 — Price Per Share (Cash amount Ducommun stockholders will receive.)
Key Players & Entities
- Ducommun Inc. (company) — Company being acquired
- High Purity Holdings, LLC (company) — Acquiring entity's affiliate
- $1.4 billion (dollar_amount) — Total transaction value
- $70.00 per share (dollar_amount) — Price per share for stockholders
- June 28, 2024 (date) — Date of the agreement announcement
- fourth quarter of 2024 (date) — Expected closing period for the acquisition
FAQ
Who is acquiring Ducommun Inc.?
An affiliate of High Purity Holdings, LLC is acquiring Ducommun Inc.
What is the total value of the acquisition?
The acquisition is valued at approximately $1.4 billion.
What price will Ducommun shareholders receive per share?
Ducommun stockholders are expected to receive $70.00 per share in cash.
When is the acquisition expected to close?
The transaction is anticipated to close in the fourth quarter of 2024.
What are the conditions for the acquisition to close?
The acquisition is subject to customary closing conditions, including regulatory approvals and shareholder consent.
Filing Stats: 488 words · 2 min read · ~2 pages · Grade level 11.6 · Accepted 2024-06-28 17:00:29
Filing Documents
- d854130d8k.htm (8-K) — 27KB
- d854130dex31.htm (EX-3.1) — 2KB
- 0001193125-24-172404.txt ( ) — 183KB
- dco-20240628.xsd (EX-101.SCH) — 3KB
- dco-20240628_def.xml (EX-101.DEF) — 13KB
- dco-20240628_lab.xml (EX-101.LAB) — 22KB
- dco-20240628_pre.xml (EX-101.PRE) — 14KB
- d854130d8k_htm.xml (XML) — 5KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (d)Exhibits Exhibit No. Title and Description 3.1 Amendment to the Bylaws of Ducommun Incorporated dated June 28, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DUCOMMUN INCORPORATED (Registrant) Date: June 28, 2024 By: /s/ Rajiv A. Tata Rajiv A. Tata Vice President, General Counsel & Corporate Secretary