Triumph Group (TGI) said Monday that it has entered into a definitive agreement to be acquired by affiliates of private equity firms Warburg Pincus and Berkshire Partners through a newly formed entity for a total enterprise value of about $3 billion.
Triumph shareholders will receive $26 per share in cash. Upon completion, Triumph will no longer be traded on the New York Stock Exchange and become a privately held company, jointly controlled by Warburg Pincus and Berkshire Partners.
The transaction is expected to close in the second half of this year. Triumph's board of directors unanimously approved the acquisition.
The company's shares jumped nearly 36% during recent Monday premarket activity.
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