Heroux-Devtek Inc. (T.HRX) hit a new 52-week high of $10.99 Tuesday. Héroux-Devtek Inc. (TSX: HRX), a leading Canadian manufacturer of aerospace products, today announced that it has executed a definitive agreement for the sale of substantially all of its Aerostructure and Industrial Products operations to Precision Castparts Corp. (NYSE: PCP) for $300 million in cash, subject to post-closing adjustments.
The transaction, which has been unanimously approved by Héroux-Devtek's Board of Directors, is expected to close in the second quarter of the current fiscal year and is subject to customary regulatory approvals and other approvals for this type of transaction. The transaction is not subject to shareholders' approval.
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