Aerospace and defense company Ducommun in Costa Mesa said it will “carefully review” a revised buyout offer from private equity firm Albion River LLC.
Albion River increased its offer to $65 per share in cash from the $60 apiece proposal that Ducommun (NYSE: DCO) rejected in April.
“Consistent with its fiduciary duties and in consultation with its legal and financial advisors, the board of directors will carefully review and consider the revised 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 said in a news release yesterday.
Shares in Ducommun were up less than 1% this morning at $60.13 apiece for a market cap of $884 million.
Albion River of Rockville, Md., owns about 9.2% of Ducommun’s shares.
