United Technologies Ends Deal with TransDigm, LMI Aerospace Buys Valent: Merger and Acquisitions Update
In a Thursday release, United Technologies Corporation (NYSE:UTX) reported that it reached a mutual agreement with TransDigm Group Incorporated (NYSE:TDG) to terminate the previously announced divestiture of the Goodrich Corporation pump and engine control systems unit to TransDigm. The parties ended their agreement after being notified that the Justice Department objected to the transaction.
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LMI Aerospace (NASDAQ:LMIA), announced Thursday that it will purchase Valent Aerostructures for around $237 million, plus about $9.7 million of certain retained obligations. The buyer is a leading provider of structural assemblies, kits and components and design engineering services to both the aerospace and defense industries. The Boeing Company (NYSE:BA) has previously awarded Supplier of the Year to both LMI and to Valent.
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