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TransDigm Group Incorporated (NYSE:TDG), currently trading near its 52-week high with a market capitalization of $90 billion, announced Friday that Jorge Valladares III has resigned from its board of directors, effective immediately. The company, which has demonstrated impressive gross profit margins of nearly 60% and maintains strong liquidity with a current ratio of 3.09, stated that Mr. Valladares stepped down due to professional obligations related to a recently accepted position at another organization.
According to the company’s statement, Mr. Valladares’ departure was not the result of any disagreement with TransDigm Group regarding its operations, policies, or practices. The company expressed appreciation for his years of service and contributions.
This information is based on a press release statement included in a recent SEC filing.
In other recent news, TransDigm Group announced a significant development with the departure of Jessica L. Warren from her roles as General Counsel, Chief Compliance Officer, and Secretary. This change was confirmed through a filing with the Securities and Exchange Commission, which also detailed her entitlements following the termination. In a separate development, TransDigm has amended its merger agreement with Servotronics, raising the tender offer to $47.00 per share in cash. This move came after Servotronics received an unsolicited acquisition proposal, which their board ultimately rejected in favor of TransDigm’s revised terms.
Additionally, the acquisition of Servotronics by TransDigm is set to proceed at a 274% premium, with the transaction valued at approximately $110 million. In terms of financial projections, KeyBanc has raised its price target for TransDigm to $1,700, citing a stronger aftermarket environment and increased global defense demand. Meanwhile, Jefferies has maintained a Buy rating on TransDigm with a $1,600 price target, despite potential short-term financial headwinds from recent debt refinancing. This refinancing involves $2.65 billion of senior notes, expected to increase interest expenses and impact earnings over the next few fiscal years.
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