Kaman To Be Bought By Arcline For $1.8 Bln; Kaman Shares Skyrocket In Pre-market

(RTTNews) - Kaman Corp. (KAMN), an aerospace and defense company, Friday announced that it has entered into a definitive agreement to be acquired by private equity firm, Arcline Investment Management, L.P. for $1.8 billion in an all-cash transaction.

Following this news, shares of Kaman surged around 101 percent in pre-market activity.

Under the agreement terms, Kaman shareholders will receive $46 per share, which is a premium of 105 percent over Kaman's closing share price on January 18.

The acquisition is set to close in the first half of 2024 taking the company private.

In pre-market activity, Kaman shares are trading at $45.08, up 100.98% on the New York Stock Exchange.