B/E Aerospace (BEAV) Considers Sale
Shares of B/E Aerospace Inc. (BEAV) were trading up + 7.86 or +8.84 percent to $96.82 per share in pre-market trading on Monday, after the company announced Sunday it was considering strategic alternatives, which included a possible sale of the company, a merger or the spin off of the company, or of a selected subsidiary. B/E also announced the postponement of their investor meeting that was to be held in Winston-Salem, NC this morning.
Founded in 1987 as Bach Engineering, Wellington, Florida based B/E Aerospace Inc. is a global manufacturer of aircraft cabin interiors and the worldâ s largest supplier of aerospace fasteners, logistic services and consumables. B/E Aerospace, in addition to designing and developing a wide array of products for commercial and business aircraft, is a world leader in the manufacture of cabin seating, lighting and oxygen systems, modular lavatory systems and food preparation and storage equipment. The company has a market cap of $9.4 billion. According to the companyâ s press release on Sunday, B/E has retained Citigroup (C
) as its financial advisor and Shearman & Sterling LLP as its legal counsel in the exploration of strategic options. The release also said that no decision had yet been and there was no assurance that the companyâ s exploring these alternatives would lead to any transaction being conducted or consummated. The release also noted that, â
Published on May 5, 2014
By Jay Hawk