Ducommun Incorporated Confirms Receipt of Unsolicited, Non-Binding Indication of Interest From Albion River
08 April 2024 - 8:05PM
Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”), a
global supplier of innovative electronic systems and structural
solutions for the aerospace and defense industry, today confirmed
that the Company’s Board of Directors has received an unsolicited
non-binding indication of interest from Albion River LLC, a private
direct investment firm, to acquire all outstanding shares of
Ducommun for $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. The
Company’s shareholders do not need to take any action at this time
and the Board has made no decision with respect to the Company’s
response to the indication of interest.
Ducommun has a rich 175-year history and is the oldest
continuously operating company in California. In 2023, the
Company’s shareholders benefitted from a year-over-year increase in
market capitalization from $605M in 2022 to $760M. The Company also
reached a new all-time revenue record revenue of $757M in
2023.
RBC Capital Markets, LLC is acting as a financial advisor to
Ducommun, and Simpson Thacher & Bartlett LLP is acting as legal
counsel.
About Ducommun Incorporated Ducommun
Incorporated delivers value-added innovative manufacturing
solutions to customers in the aerospace, defense and industrial
markets. Founded in 1849, the company specializes in two core areas
– Electronic Systems and Structural Systems – to produce complex
products and components for commercial aircraft platforms,
mission-critical military and space programs, and sophisticated
industrial applications. For more information, visit
Ducommun.com
Forward Looking Statements
This press release includes "forward looking statements" within
the meaning of the of the federal securities laws relating to
Ducommun Incorporated, including statements relating to Ducommun’s
expectations relating to the Albion’s unsolicited indication of
interest and related matters, the Company’s aftermarket business,
future M&A opportunities and similar expressions that concern
Ducommun’s intentions or beliefs about future occurrences,
expectations, or results. Forward looking statements are subject to
risks, uncertainties and other factors that may change over time
and may cause actual results to differ materially from those that
are expected. It is very difficult to predict the effect of known
factors, and Ducommun cannot anticipate all factors that could
affect actual results that may be important to an investor. All
forward-looking information should be evaluated in the context of
these risks, uncertainties and other factors, including those
factors disclosed under “Risk Factors” in our reports filed with
the SEC, including the Company’s Quarterly Reports on Form 10-Q,
Annual Reports on Form 10-K, Current Reports on Form 8-K and its
other filings with the SEC. The forward looking statements included
in this press release are made only as of the date of this press
release, and Ducommun does not undertake any obligation to (and
expressly disclaims any such obligation to) update the forward
looking statements to reflect subsequent events or
circumstances.
CONTACTS: Suman Mookerji, Senior Vice
President, Chief Financial Officer, 657.335.3665
Steven Lipin/Lauren Odell, Gladstone Place Partners,
212.230.5930
Ducommun (NYSE:DCO)
Historical Stock Chart
From Apr 2024 to May 2024
Ducommun (NYSE:DCO)
Historical Stock Chart
From May 2023 to May 2024