Private investment Albion River LLC says it will take its buyout offer for aerospace and defense firm Ducommun (NYSE: DCO) directly to the company’s shareholders.
“Albion continues to believe that public markets are not an appropriate setting for Ducommun to execute its strategy and maximize shareholder value. We are committed long-term shareholders of the Company and intend to make our case directly to shareholders in due time,” Albion said in a statement today.
Albion said it owns 9.2% of Ducommun’s outstanding shares, and will make its case to shareholders at the previously scheduled annual general meeting on Wednesday.
Santa Ana-based Ducommun said April 16 it rejected Albion’s $878 million buyout bid.
For further details, see the April 29 print edition.
