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The eBearing News
August 24, 2005
Kaman Offers Final Shareholder
Buyout Plan
copyright © 2005 eBearing Inc.
Kaman Corp. (USA, publicly traded on the NASDAQ as KAMNA) has agreed to match a share buyout offer, or
Substitute Recapitalization Proposal, to controlling shareholders made by New York-based
Mason Capital Management.
The founding and controlling shareholder Kaman family began pursuing a recapitalization and share
swap arrangement some time ago, which later became a lucrative exit strategy combined with a
private equity infusion.
article: Kaman involved in likely change of controlling ownership
article: Kaman buyout progressing via private equity offer
Kaman's board of directors has now agreed to match Mason Capital Management's offer to the Kaman
family Class B common shareholders -- 3.58 shares of Common stock for each Class B share, or 1.84 shares
of Common stock plus USD $27.10 cash, or a combination.
The Kaman family went on record to the company and the board that it would support any matching
offer made by the company, over any outside offer.
Financially, the final agreement is a significant step us from the Kaman family's initial
expectations. When the recapitalization and share swap was first being pursued, Class B shares
were valued at only $10 million; the latest valuation is $36.7 million.
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- by Bruce A. Carr
from individual research,
tips and commercial sources.
Unauthorized reproduction is prohibited.
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eBearing.com ... for everything that moves™
Entire contents Copyright 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered
trademarks of eBearing Inc.
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eBearing.com ... for everything that moves™
Entire contents Copyright © 1999-2008, eBearing Inc. All rights reserved.
eBearing.com and "... for everything that moves" are registered trademarks of eBearing Inc.
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