- LMI Aerospace (NASDAQ:LMIA) entered into a merger agreement to be acquired by Sonaca Group, the deal is expected to close by mid-2017.
- As per the agreement, LMI shareholders will receive $14 per share in an all-cash transaction.
- “This deal brings our combined company to the forefront as a leader in the design and manufacture of complex aerostructures while working to diversify our global customer base,” said Dan Korte, LMI Aerospace chief executive officer. “In addition, 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.”
- LMI will operate as a member of the Sonaca Group, with headquarters remaining in St. Louis. Korte will continue to serve as LMI Aerospace CEO and other members of the LMI senior leadership team also will remain in place and will continue their current reporting relationships.
- Source: Press Release