India, May 19 -- TransDigm Group Incorporated (TDG), a provider of highly engineered aerospace components, and Servotronics, Inc. (SVT) Monday said that TransDigm has agreed to acquire Servotronics, in a transaction valued about $110 million, in cash.
The purchase price of $38.50 per share represents a premium of about 274% to Servotronics' closing price on May 16.
Upon closing the deal, Servotronics, a maker of servo-control components and other advanced technology products, will become an indirect unit of TransDigm.
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Under the agreement, a subsidiary of TransDigm is expected to commence a cash tender offer for all the outstanding shares of Servotronics...