Aeroflex Shareholders Approve Merger Agreement With Cobham

(RTTNews) - Aeroflex Holding Corp. (ARX) said Wednesday that its shareholders have approved the proposal to adopt the company's merger agreement with Cobham plc (COB.L), a UK-listed company that designs and manufactures a wide range of equipment, specialized systems and components for the aerospace, defense, energy, and electronics industries.

In May, Aeroflex agreed to be acquired by UK-based Cobham for $10.50 per share in cash. Total deal value is about $1.46 billion, including the assumption of Aeroflex's net debt of $540 million at March 31.

As a result of the merger contemplated by the merger agreement, Aeroflex will become a wholly-owned subsidiary of Cobham.

Aeroflex expects the merger to close on or about September 12.