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Name: ROCKWELL COLLINS
7JetSet7 Code: RCO
Status: Operational
Region: NORTH AMERICA
City: CEDAR RAPIDS
Country: USA
Employees
Web: rockwellcollins.com
Email: info@rockwellcollins.com
Telephone:
Fax:
Sita:
Background
(definitions)

March 2017: Rockwell Collins and B/E Aerospace each said their respective shareholders had approved the companies’ merger.

Cedar Rapids, Iowa-based Rockwell Collins (which specializes in, among other areas, flight deck avionics and cabin electronics) in October 2016 announced that it would acquire airplane cabin interior product supplier B/E Aerospace for approximately $6.4 billion in cash and stock. It also agreed to take on $1.9 billion in Wellington, Florida-based B/E Aerospace’s net debt.

Rockwell Collins said March 9 that its shareholders had approved the issuance of common stock needed to complete the acquisition. “Our share owners demonstrated clear and overwhelming support with >90% of the votes cast at our special meeting voting in support of our acquisition of B/E Aerospace,” Rockwell Collins Chairman, President and (CEO) Kelly Ortberg said. The company added that the purchase “is expected to close later this spring upon completion of all requisite regulatory approvals and other customary closing conditions.” B/E Aerospace said 99% of votes cast at its special meeting of shareholders approved the transaction.

The merger agreement calls for each share of B/E Aerospace common stock to be canceled and automatically converted into the right to receive $34.10 in cash, without interest, and 0.3 of a share of Rockwell Collins common stock. “Based upon Rockwell Collins [stock’s] closing price of $97.65 on March 8, 2017, the total implied value for each B/E Aerospace share is $64.38,” B/E Aerospace said.

Fleet:
(definitions)

March 2017

Management:
(definitions)

KELLY ORTBERG, CHAIRMAN, PRESIDENT & (CEO).

 
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