Kaman Corp. (KAMN) has released an update to notify the public and investors about an entry into a material definitive agreement.
Kaman Corporation has entered into a Merger Agreement with Ovation Parent, Inc. and its subsidiary, Ovation Merger Sub, Inc., where the latter will merge into Kaman Corporation, making it a wholly owned subsidiary of the Parent company. Shareholders of Kaman Corporation’s common stock, excluding shares held by the Parent or its subsidiary or Kaman’s wholly owned subsidiaries, will receive $46.00 in cash per share as Merger Consideration. The agreement includes provisions for the full vesting and cancellation of certain equity awards, with shareholders receiving cash payments for these securities. The Merger is subject to approval by Kaman’s shareholders, regulatory approvals, and the absence of legal restraints, among other conditions. The agreement also outlines termination rights, fees payable upon certain terminations, and the unanimous approval and recommendation of the Merger by Kaman’s Board to its shareholders.
For further insights into KAMN stock, check out TipRanks’ Stock Analysis page.
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January 20, 2024 at 03:09PM
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Kaman Corp. Agrees to Merger with Ovation Parent Inc. - TipRanks.com - TipRanks
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