UNITED KINGDOM – JULY 15: A worker at the Barnes Aerospace stand applies the company’s logo at their stand at the Farnborough International Airshow in Farnborough, U.K., on Tuesday, July 15, 2008.
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Barnes Group said on Monday that private equity Apollo Funds would acquire the aerospace parts maker in a deal valued at $3.6 billion, sending its shares up nearly 3% in premarket trade.
As part of the deal, Barnes shareholders will receive $47.50 per share in cash, representing about a 5% premium to the last close.
The transaction is expected to close before the end of the first quarter in 2025.
Reuters reported the previous week that Apollo Global Management would acquire the aerospace components manufacturer, citing people familiar with the matter.
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