Home / Contract Awards / Shareholders OK $6.4B Rockwell Collins-B/E Aerospace Deal

Shareholders OK $6.4B Rockwell Collins-B/E Aerospace Deal

Shareholders at Rockwell Collins (NYSE: COL) and airline cabin equipment supplier B/E Aerospace (Nasdaq: BEAV) have approved a deal originally announced in October for Rockwell Collins to purchase B/E Aerospace for approximately $6.4 billion in cash and stock.

The transaction was backed by more than 99 percent of Rockwell Collins shareholders and nearly 90 percent of B/E Aerospace stockholders during the companies’ separate special meetings held Thursday.

Both firms expect to complete their combination in the spring pending customary closing terms.

Rockwell Collins Chairman, President and CEO Kelly Ortberg said the Cedar Rapids, Iowa-based avionics company made the acquisition in a push to add new offerings for customers and accelerate growth of business operations.

Wellington, Florida-based B/E Aerospace noted that each share of the firm’s common stock issued and outstanding immediately before the closure of the deal will be automatically exchanged for the right to receive 0.3101 of a share of Rockwell Collins common stock and approximately $34.10 cash.

Check Also

Microsoft Gets Task Order Under DoD’s JEDI Cloud Contract

The Department of Defense has awarded a task order worth $1M to Microsoft (Nasdaq: MSFT) under the potential 10-year Joint Enterprise Defense Infrastructure cloud computing contract.

Executive Mosaic Announces 2020 Wash100 Award Recipients; CEO Jim Garrettson Quoted

Executive Mosaic, the leading executive media and events company in the government contracting “GovCon” industry, announced the 2020 winners of the highly coveted and prestigious Wash100 Award. The full list of winners and more information about the award can be found on Wash100.com