Aerospace supplier HEICO reaches record high on $2.05 bln deal to buy Wencor

Heico

15/05/2023 17:50

** Shares of aerospace supplier HEICO Corp  HEI.N  rise
7.49% to $178.40 in mid-day trade, marking record high 
    ** HEI to buy Wencor Group in a deal valued at $2.05 billion
to boost its portfolio of generic parts 
    ** HEI to pay $1.9 bln in cash and $150 mln in Class A
common stock, said co 
    ** Deal expected to close by end of 2023
    ** YTD, shares have risen 15.97% vs 5.18% decline in S&P 500
Aerospace & Defense Index  .SPLRCAERO 
    
    

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))