February 26, 2021

Press Release

B/E Aerospace stockholders approve merger with Rockwell Collins

| 3/10/2017

WELLINGTON, Fla.-- B/E Aerospace, Inc. (NASDAQ:BEAV), the world's leading manufacturer of aircraft cabin interior products, announced that B/E Aerospace stockholders voted in favor of the proposal to adopt the previously announced Agreement and Plan of Merger, dated October 23, 2016 (the "Merger Agreement"), by and among B/E Aerospace and Rockwell Collins, Inc. (NYSE:COL) at a special meeting of stockholders held on March 9, 2017 at the Hilton Palm Beach Airport in West Palm Beach, Florida.

At the special meeting, approximately 99% of all votes cast, which represents approximately 79% of all outstanding shares on January 18, 2017, the record date for the special meeting, were voted in favor of the proposal to adopt the Merger Agreement.

Under the terms of the Merger Agreement, each share of B/E Aerospace common stock issued and outstanding immediately prior to the effective time of the merger will be canceled and automatically converted into the right to receive $34.10 in cash, without interest, and 0.3101 of a share of Rockwell Collins common stock, subject to a 7.5% collar. Based upon Rockwell Collins closing price of $97.65 on March 8, 2017, the total implied value for each B/E Aerospace share is $64.38.

The merger is subject to certain additional customary closing conditions, including receipt of regulatory approvals in certain jurisdictions. The merger is expected to close during the spring of 2017.

A full description of the proposed merger is included in the proxy statement for the special meeting, which is available without charge through the Securities and Exchange Commission website at www.sec.gov. You may also obtain copies of documents filed by B/E Aerospace with the SEC on B/E Aerospace's Internet website at http://www.beaerospace.com under the tab "Investor Relations," then under the tab "Reports & SEC Filings."


About B/E Aerospace, Inc.

B/E Aerospace is the world's leading manufacturer of aircraft cabin interior products. B/E Aerospace designs, develops and manufactures a broad range of products for both commercial aircraft and business jets. B/E Aerospace manufactured products include aircraft cabin seating, lighting systems, oxygen systems, food and beverage preparation and storage equipment, galley systems, and modular lavatory systems. B/E Aerospace also provides cabin interior reconfiguration, program management and certification services. B/E Aerospace sells and supports its products through its own global direct sales and product support organization. For more information, visit the B/E Aerospace website at www.beaerospace.com.

Read more here.

Tags: Manufacturing/Distribution, Technology/Innovation

Florida Business News

Florida Trend Video Pick

Aerial footage of St. Pete Beach, named best beach in the United States
Aerial footage of St. Pete Beach, named best beach in the United States

The beautiful St. Pete Beach, in Florida, was named best beach in the United States, according to Tripadvisor’s annual Travelers’ Choice Awards for Beaches. It is also the fifth best beach in the entire world.

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

Have you received the COVID-19 vaccine yet?

  • Yes, I have received the first dose of the vaccine
  • Yes, I have received both doses of the vaccine
  • No, I am still waiting for an appointment
  • No, I am not eligible at this time
  • Other (Please share your comments in the comment section below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2021 Trend Magazines Inc. All rights reserved.