logo
Plus   Neg
Share
Email

TransDigm Plans To Divest Souriau-Sunbank Connection Tech To Eaton

TransDigm Group Inc. (TDG) said that it plans to divest Souriau-Sunbank Connection Technologies to Eaton Corporation plc (ETN) in a transaction valued at approximately $920 million.

TransDigm will have the right to require Eaton to enter into a securities purchase agreement providing for the purchase by Eaton of the shares of the Souriau-Sunbank companies, after completion of the consultation process with Souriau's French works councils.

The transaction is expected to be completed during the fourth quarter of calendar 2019.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
SiriusXM launched a new subscription package exclusively for college students at a steep discount, just ahead of the fall semester. The satellite-radio giant introduced the "Student Premier" Package that provides students with all the content in SiriusXM's "Premier Streaming" package for $4 per month. This is a 69 percent discount from the regular price of $12.99 per month for Premier Streaming. Apple Inc. warned that its newly launched titanium Apple Card can be easily damaged if not stored properly. The company advised that the card must be kept away from fabrics like leather and denim as they can cause permanent discoloration. The tech giant has posted a support page that provides instructions to users on how to protect and maintain their Apple Card. Southwire Co. LLC recalled about 3000 units of Garvin pop-up electrical outlet floor box kits for concerns of fire hazard. The company said the electrical receptacles can overheat when in use. Southwire already received three reports of the floor boxes overheating. However, there have been no injuries reported so far.
Follow RTT