Eaton to acquire Souriau-Sunbank from TransDigm for $920M

TransDigm Group announced it has received a binding offer from Eaton Corporation to acquire Souriau-Sunbank Connection Technologies for approximately $920 million. The transaction is expected to close in Q4 2019.

“TransDigm Group Incorporated announced today that it has received a binding offer pursuant to a put option agreement from Eaton Corporation plc for the acquisition by Eaton of the business of Souriau-Sunbank Connection Technologies in a transaction valued at approximately $920 million.”transdigmgroupinc.gcs-web.com

• 4 sources
• transdigmgroupinc.gcs-web.comTransDigm Group Plans to Divest Souriau-Sunbank Connection Technologies to Eaton - TransDigm Group Inc.Jul 22, 2019
• eaton.comEaton commits to acquire Souriau-Sunbank Connection Technologies for $920 millionJul 22, 2019
• finance.yahoo.comEaton to Buy TransDigm's Unit, Expand Aerospace BusinessZacks Equity ResearchJul 23, 2019
• connectortips.comEaton will acquire Souriau-Sunbank Connection Technologies for $920 millionMary GannonAug 2, 2019

Summarized from public sources; check the original articles before acting on it.