# Woodward and Hexcel end merger pact citing pandemic

Woodward Inc. and Hexcel Corp. called off their merger agreement that would have created a major aerospace and defense supplier, citing the effects of the coronavirus pandemic.

- Type: Acquisition
- Announced: 2020-04-06
- Where: United States
- Value: $6.40B
- Status: cancelled
- Products: aerospace and defense components
- Sectors: [Aerospace Components](https://endata.com/sectors/aerospace-components.md)

## Companies

- [Woodward](https://endata.com/companies/3124.md)
- [Hexcel](https://endata.com/companies/15803.md)
- [Woodward](https://endata.com/companies/3124.md) (acquirer)
- [Woodward](https://endata.com/companies/3124.md) (partner)
- [Woodward](https://endata.com/companies/3124.md) (target)
- [Hexcel](https://endata.com/companies/15803.md) (partner)
- [Hexcel](https://endata.com/companies/15803.md) (target)

## Sources

- [news.bloomberglaw.com](https://news.bloomberglaw.com/mergers-and-acquisitions/woodward-hexcel-end-aerospace-merger-pact-citing-pandemic-1), 2020-04-06: "Woodward, Inc. and Hexcel Corp. called off a merger agreement that would have created one of the world’s biggest aerospace and defense suppliers, adding to the list of deals that have been quashed by coronavirus pandemic."
- [flightglobal.com](https://www.flightglobal.com/airframers/2020/04/hexcel-and-woodward-cancel-merger-due-to-coronavirus-downturn/), 2020-04-06: "The pandemic has resulted in a need for each company to focus on its respective businesses and has impacted the companies’ ability to realise the benefits of the merger."
- [pymnts.com](https://www.pymnts.com/cpi-posts/boeing-suppliers-hexcel-woodward-scrap-merger-over-covid-19/), 2020-04-06: "Although we are disappointed with this outcome, we are confident this is the right decision for our customers, our shareholders, and our employees."
- [avitrader.com](https://avitrader.com/2020/04/07/covid-19-sees-end-to-hexcel-and-woodward-merger%ef%bb%bf/), 2020-04-07: "The planned US$6.4 billion all-stock merger between two major aerospace and defense suppliers, Hexcel Corp and Woodward Inc, has been abandoned by mutual consent"
- [finance.yahoo.com](https://finance.yahoo.com/news/hexcel-woodward-announce-termination-merger-132101918.html), 2020-04-07: "Hexcel Corporation and Woodward, Inc. recently agreed to mutually terminate their previously-announced $6.4-billion merger deal."
- [everchem.com](https://everchem.com/chemical-ma-stalls/), 2020-04-20: "the composites maker Hexcel completely canceled its merger with the aerospace components firm Woodward, citing the health crisis caused by the novel coronavirus."
- [textilemedia.com](https://www.textilemedia.com/about-us/latest-news/woodward-and-hexcel-terminate-merger-agreement/), 2020-05-05: "Composites producer Hexcel and Woodward have terminated their merger agreement, previously announced in January."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.