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Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Kaman to be taken private by Arcline in $1.8bn deal

(Sharecast News) - Aerospace parts manufacturer Kaman said on Friday that it has agreed to be taken private by Arcline Investment Management in a $1.8bn deal. Under the terms of the agreement, Kaman shareholders will receive $46 per share in cash, which is premium of around 105% to the closing price on Thursday.

Kaman chairman, president and chief executive Ian K. Walsh, said: "Following robust engagement with Arcline and careful evaluation of other potential value creation opportunities, we are pleased to have reached this agreement.

"Given the rigorous review of alternatives we recently completed, we are confident this transaction maximises value for shareholders and is in the best interest of Kaman as well as our employees, customers and other stakeholders."

The deal is expected to close in the first half of the year.

At 1450 GMT, Kaman shares were up 101% at $45.11.

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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