Ducommun Incorporated Confirms Receipt of Unsolicited Revised Non-Binding Indication of Interest From Albion River

Rhea-AI Summary

Ducommun Incorporated (NYSE: DCO), a global supplier for the aerospace and defense industry, has received an unsolicited revised non-binding indication of interest from Albion River The proposal aims to acquire all outstanding Ducommun shares for $65.00 per share in cash. Ducommun's Board of Directors will review this offer to determine if it's in the best interest of the company and its shareholders. No immediate action is required from shareholders.

Ducommun, California's oldest continuously operating company, saw its market capitalization increase from $605M in 2022 to $760M in 2023. The company also achieved a new all-time revenue record of $757M in 2023, highlighting its strong performance and growth trajectory.

Positive

• Unsolicited acquisition offer at $65.00 per share in cash
• Market capitalization increased from $605M in 2022 to $760M in 2023
• Achieved new all-time revenue record of $757M in 2023

Negative

• None.

News Market Reaction

-2.28%

1 alert

-2.28% News Effect

On the day this news was published, DCO declined 2.28%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

COSTA MESA, Calif., July 18, 2024 (GLOBE NEWSWIRE) -- Ducommun Incorporated (NYSE: DCO) (“Ducommun” or the “Company”), a global supplier of innovative electronic systems and structural solutions for the aerospace and defense industry, confirmed today that on July 15, 2024, the Company’s Board of Directors received an unsolicited revised non-binding indication of interest from Albion River LLC (“Albion River”), a private direct investment firm, to acquire all outstanding shares of Ducommun for $65.00 per share in cash.

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 has a rich 175-year history and is the oldest continuously operating company in California. In 2023, the Company’s shareholders benefited from a year-over-year increase in market capitalization from $605M in 2022 to $760M. The Company also reached a new all-time revenue record of $757M in 2023.

About Ducommun Incorporated
Ducommun Incorporated delivers value-added innovative manufacturing solutions to customers in the aerospace, defense and industrial markets. Founded in 1849, the company specializes in two core areas – Electronic Systems and Structural Systems – to produce complex products and components for commercial aircraft platforms, mission-critical military and space programs, and sophisticated industrial applications. For more information, visit Ducommun.com.

Forward Looking Statements
This press release includes “forward looking statements” within the meaning of the of the federal securities laws relating to Ducommun Incorporated, including statements relating to Ducommun’s expectations relating to Albion River’s unsolicited revised indication of interest and related matters, the Company’s aftermarket business, future M&A opportunities and similar expressions that concern Ducommun’s intentions or beliefs about future occurrences, expectations, or results. Forward looking statements are subject to risks, uncertainties and other factors that may change over time and may cause actual results to differ materially from those that are expected. It is very difficult to predict the effect of known factors, and Ducommun cannot anticipate all factors that could affect actual results that may be important to an investor. All forward-looking information should be evaluated in the context of these risks, uncertainties and other factors, including those factors disclosed under “Risk Factors” in our reports filed with the SEC, including the Company’s Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K, Current Reports on Form 8-K and its other filings with the SEC. The forward-looking statements included in this press release are made only as of the date of this press release, and Ducommun does not undertake any obligation to (and expressly disclaims any such obligation to) update the forward-looking statements to reflect subsequent events or circumstances.

CONTACTS:
Suman Mookerji, Senior Vice President, Chief Financial Officer, 657.335.3665

FAQ

What is the current acquisition offer for Ducommun (DCO) stock?

Albion River has made an unsolicited revised non-binding indication of interest to acquire all outstanding Ducommun (DCO) shares for $65.00 per share in cash.

How did Ducommun's (DCO) market capitalization change from 2022 to 2023?

Ducommun's market capitalization increased from $605 million in 2022 to $760 million in 2023, representing significant growth for shareholders.

What was Ducommun's (DCO) revenue for the fiscal year 2023?

Ducommun achieved a new all-time revenue record of $757 million in 2023.

When did Ducommun (DCO) receive the revised acquisition offer from Albion River?

Ducommun's Board of Directors received the unsolicited revised non-binding indication of interest from Albion River on July 15, 2024.