Shares of manufacturing company Ducommun Inc DCO are soaring after the company confirmed that its Board of Directors received an unsolicited non-binding indication of interest from Albion River LLC.
A private direct investment firm, Albion, has proposed to acquire all outstanding shares of Ducommun for $60.00 per share in cash.
Ducommun said its Board of Directors will carefully review and consider the proposal to determine if it is in the best interest of the company and the shareholders.
The company recorded a revenue of $757 million in 2023, and the shareholders benefited from a year-over-year increase in market capitalization from $605 million in 2022 to $760 million.
RBC Capital Markets, LLC is acting as a financial advisor to Ducommun, and Simpson Thacher & Bartlett LLP is acting as legal counsel.
Ducommun provides manufacturing solutions to customers in the aerospace, defense and industrial markets, specializing in Electronic Systems and Structural Systems.
Price Action: DCO shares are trading higher by 14.2% at $55.48 in premarket on the last check Monday.
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