Rockwell Collins’ shareholders vote in favor of B/E Aerospace acquisition

Rockwell Collins shareholders voted (09-Mar-2017) in favor of the acquisition of B/E Aerospace. Rockwell Collins' chairman, president and CEO Kelly Ortberg reported more than 90% of votes cast at a special shareholder meeting supported the acquisition, showing "clear and overwhelming support". Under the terms of the agreement each share of B/E Aerospace common stock issued and outstanding immediately prior to the merger will be canceled and converted into the right to receive USD34.10 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' stock closing price of USD97.65 on 08-Mar-2017, the total implied value for each B/E Aerospace share is USD64.38. The merger is expected to close during the northern spring 2017, subject to final regulatory approvals. [more - original PR - Rockwell Collins] [more - original PR - B/E Aerospace]