Ducommun gets $60 a share takeover offer from Albion River

8th Apr 2024 15:29

(Sharecast News) - US aerospace and defence supplier Ducommun said on Monday that it had received an unsolicited non-binding indication of takeover interest from private direct investment firm Albion River at $60.00 per share in cash.

"Consistent with its fiduciary duties and in consultation with its legal and financial advisors, the board of directors will carefully review and consider the proposal to determine if it is in the best interest of the company and Ducommun's shareholders," it said.

Ducommun advised its shareholders to take no action at this time, adding that the board has made no decision with respect to the company's response.

At 1535 BST, the shares were up 13.5% at $55.00.

Founded in 1849, the Docommun produces complex products and components for commercial aircraft platforms, mission-critical military and space programmes, and sophisticated industrial applications.