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


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.

Comments (1)
  • bobbobwhite
    , contributor
    Comments (2172) | Send Message
     
    EDAC message board leader "argyle" has called it right all along. Now all who followed his EDAC advice will be rewarded.

     

    Axiom: Always pays to closely follow those who know a business and an industry well and who share that information with interested and sincere others.
    28 Mar 2013, 11:48 AM Reply Like
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