Ducommun down after rejecting takeover bid from Albion River

Ducommun Incorporated

16/04/2024 15:07

** Shares of aerospace and defense supplier Ducommun  DCO.N 
down 1.8% at $54.4 in morning trade
    ** Ducommun rejects unsolicited, non-binding takeover bid
from private investment firm Albion River
    ** Board of directors believe that Albion River's offered
price and generic proposed actions significantly undervalue
Ducommun 
    ** Albion River's proposal, made earlier this month, for $60
per share in cash represented a premium of 23.5% to DCO stock's
last close before the bid was announced
    ** Up to Monday's close, stock had risen ~6% YTD

 (Reporting by Kannaki Deka)
 ((Kannaki.Deka@thomsonreuters.com))