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Big Law

Boeing Suppliers Hexcel and Woodward to Merge in $6.4B Deal

Hexcel Corp (HXL.N), a composites technology company, and aircraft and industrial parts maker Woodward Inc (WWD.O) said they would combine in an all-stock merger of equals to create an integrated systems provider for the aerospace and industrial sectors. 

The deal between the two U.S.-based companies is valued at about $6.43 billion based on Woodford’s Friday close of $121.96, and values Hexcel at $76.23 per share, a premium of 4.5% from Hexcel’s last close, according to Reuters calculations. 

The companies said existing Woodward shareholders would own about 55% and existing Hexcel shareholders would own some 45% of the combined company on a fully diluted basis after the completion of the merger.

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