Heroux-Devtek ( (TSE:HRX) ) has provided an update.
Héroux-Devtek announced the completion of its acquisition by an affiliate of Platinum Equity Advisors, LLC, whereby all its outstanding common shares were acquired for $32.50 per share. This acquisition will lead to the delisting of Héroux-Devtek’s shares from the Toronto Stock Exchange and a cessation of its reporting issuer status under Canadian securities laws. This strategic move marks a significant shift in Héroux-Devtek’s market positioning and operational dynamics, potentially impacting its stakeholders by transitioning into private ownership.
More about Heroux-Devtek
Héroux-Devtek Inc. is an international company that specializes in the design, development, manufacture, repair, and overhaul of aircraft landing gear, hydraulic and electromechanical actuators, custom ball screws, and fracture-critical components for the aerospace market. It is the third-largest landing gear manufacturer globally, serving both defense and commercial sectors. The company operates with a significant international presence, with 94% of its sales occurring outside of Canada, including 57% in the United States, and has facilities in Canada, the United States, the United Kingdom, and Spain.
YTD Price Performance: 1.79%
Average Trading Volume: 44,344
Technical Sentiment Consensus Rating: Sell
Current Market Cap: C$1.09B
See more data about HRX stock on TipRanks’ Stock Analysis page.