Triumph Group Inc. (TGI) witnessed a remarkable surge in its stock price during the pre-market trading session on Monday, soaring over 20%. This significant move came in response to reports that the aircraft parts and services supplier is in advanced negotiations to be acquired by private equity firms Warburg Pincus and Berkshire Partners for approximately $3 billion, including debt.
According to the reports, the potential deal could value Triumph at $26 per share, representing a substantial premium over the company's closing price of $18.74 on the previous trading day. While the acquisition is not finalized yet, there are expectations that an agreement could be announced as early as Monday.
Triumph Group, headquartered in Radnor, Pennsylvania, offers a range of aftermarket products and services for commercial and military aircraft, including engine parts and integrated systems. The company had been exploring strategic options, including a potential sale, and recently divested its product support arm to AAR Corp. for $725 million to focus on its core aftermarket business.
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