Kaman to be taken private by Arcline Investment Management in $1.8 bln deal (updated)

Kaman

19/01/2024 13:35

(Adds shares in paragraph 2, details of the deal throughout)
       Jan 19 (Reuters) - Aerospace parts maker Kaman Corp
 KAMN.N  said on Friday it has agreed to be taken private by
Arcline Investment Management in an all-cash deal valued at
about $1.8 billion.
    Shares of Kaman, which counts the U.S. military and
planemaker Boeing  BA.N  among its customers, more than doubled
to $45.13 in premarket trading.
    Under the terms of the deal, Kaman shareholders will receive
$46.00 per share in cash, representing a premium of 105% over
the stock's last close.
    The deal is expected to close in the first half of 2024.
J.P. Morgan Securities is the exclusive financial adviser to
Kaman, while Morgan Stanley is the exclusive financial adviser
to private-equity firm Arcline.

 (Reporting by Kannaki Deka in Bengaluru; Editing by Shilpi
Majumdar)
 ((Kannaki.Deka@thomsonreuters.com;))