Military
MTC Technologies White Christmas Buyout (MTCT)
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This morning, MTC Technologies, Inc. (NASDAQ: MTCT) has confirmed its buyout news from late Friday night where MTC Technologies, Inc. (NASDAQ: MTCT) has signed a definitive merger agreement to be acquired by BAE Systems, Inc.
The transaction is valued at roughly $450 million for a cash price of $24.00 per share plus the assumption of debt.
As BAE Systems is a huge defense and aerospace operation, it will be simple to integrate MTC’s aircraft modernization and sustainment, as well as its logistics and other operations with Department of Defense and national security agencies.
MTCT close at $17.78 Friday, and its 52-week trading range is $15.31 to $25.42.
Jon C. Ogg
December 24, 2007
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