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TransDigm Group Incorporated (NYSE:TDG), a company currently valued at nearly $86 billion and trading near its 52-week high, reported that, effective Monday, Jessica L. Warren has ceased serving as General Counsel, Chief Compliance Officer, and Secretary of the company. The announcement was made in a press release statement based on a filing with the Securities and Exchange Commission.
According to the filing, upon her termination of employment, Ms. Warren is generally entitled to the compensation and benefits provided for a termination without cause under the terms of her outstanding stock option awards and her employment agreement with TransDigm Group.
The company stated its appreciation for Ms. Warren’s contributions during her tenure.
TransDigm Group, based in Cleveland, Ohio, is a manufacturer of aircraft parts and auxiliary equipment. The company’s common stock is listed on the New York Stock Exchange under the symbol TDG.
This report is based on a statement included in a recent SEC filing.
In other recent news, TransDigm Group Incorporated has seen significant developments. The company reported a successful pricing of a $2.65 billion debt offering, with plans to use the proceeds to redeem existing 5.5% notes due in 2027. This refinancing is expected to increase interest expenses, with Jefferies predicting a $9 million impact on fiscal year 2025 earnings and a $23 million impact in 2026. Despite this, Jefferies maintains a Buy rating with a $1,600 price target, noting TransDigm’s improved debt maturity profile. KeyBanc also raised its price target for TransDigm to $1,700, citing strong aftermarket conditions and global defense demand.
In merger news, TransDigm has increased its tender offer for Servotronics Inc. to $47.00 per share, following an unsolicited proposal from a third party. This amendment was accepted by Servotronics’ Board of Directors, who found it more favorable than the third-party offer. The merger agreement, valued at approximately $110 million, reflects a substantial 274% premium over Servotronics’ previous stock price. This acquisition is expected to enhance TransDigm’s product offerings and market position in the aerospace sector.
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