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Hexcel Corp and Woodward combine in merger valued at over $6 billion

The deal is valued about $6.43 billion based on Reuters calculations using Friday's closing stock prices of $121.96 for Woodward and $72.91 for Hexcel

Reuters 

Dollar, US, $

Hexcel Corp, a composites technology company, and aircraft and industrial parts maker Woodward Inc said on Sunday they would combine in an all-stock of equals to create an integrated systems provider for the aerospace and industrial sectors.

The deal is valued about $6.43 billion based on Reuters calculations using Friday's closing stock prices of $121.96 for Woodward and $72.91 for Hexcel.

The said existing Woodward shareholders will own approximately 55 per cent and existing Hexcel shareholders will own approximately 45 per cent of the combined company on a fully diluted basis after the completion of the

The combined company will be named Woodward Hexcel and is expected to generate net revenues of about $5.3 billion and EBITDA of $1.1 billion.

First Published: Mon, January 13 2020. 03:09 IST
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