Home Private Equity Kaman going private at 105% premium in deal valued at $1.8B

Kaman going private at 105% premium in deal valued at $1.8B

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Last Updated: Jan. 19, 2024 at 4:36 p.m. ET

First Published: Jan. 19, 2024 at 8:38 a.m. ET

Kaman Corp.’s stock doubled Friday after it agreed to be taken private by Arcline Investment Management in a deal valued at $1.8 billion.

Kaman, based in Bloomfield, Conn., said it agreed to a price of $46 per share, a 105% premium over its closing share price on Thursday.

The company’s stock KAMN jumped 100.9% to close at $45.05 on Friday.

Kaman Corp.’s stock doubled Friday after it agreed to be taken private by Arcline Investment Management in a deal valued at $1.8 billion.

Kaman, based in Bloomfield, Conn., said it agreed to a price of $46 per share, a 105% premium over its closing share price on Thursday.

The company’s stock

KAMN

jumped 100.9% to close at $45.05 on Friday.

The transaction for the aerospace- and defense-components company is expected to close in the first half of this year.

Kaman Chief Executive Ian K. Walsh said the deal followed a “robust engagement with Arcline and careful evaluation of other potential value creation opportunities.”

The company recently completed a “rigorous” review of alternatives and its board remains “confident this transaction maximizes value for shareholders,” he said.

Before Friday’s moves, Kaman Corp.’s KAMN stock had fallen by 1.8% in the past year, compared to a 22.6% increase by the S&P 500
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