TransDigm Group Incorporated and Servotronics, Inc. announced an adjustment to their previously agreed-upon merger terms. The tender offer price for all outstanding shares of Servotronics has been raised to $47.00 per share in cash.
This revised offer represents an increase from the initial tender offer price of $38.50 per share. The decision to raise the price was made following an unsolicited takeover proposal received by Servotronics, indicating competitive interest in the acquisition.
The increased offer price aims to ensure the successful completion of the acquisition, providing enhanced value for Servotronics' shareholders. This adjustment underscores TransDigm's commitment to securing the strategic asset.
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