Private equity firm MidOcean Partners makes a last-minute $18.25 per share counterbid for Edac...

|About: Edac Technologies Corporation (EDAC)|By:, SA News Editor

Private equity firm MidOcean Partners makes a last-minute $18.25 per share counterbid for Edac Technologies (EDAC +4.5%), valuing the aerospace and industrial-components maker at about $105M and trumping Monday's $17.75 per share deal made with Greenbriar affiliate GB Aero Engine. The proposal, being made through one of MidOcean's affiliates and with a large North American pension plan investment manager, represents a 23.2% premium to the average closing per share price of EDAC over the 30 trading days preceding the announcement of the deal with Greenbriar.