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May 5, 2014
06:06 EDTBEAVBE Aerospace deal would have to be 'rather creative,' says Deutsche Bank
Deutsche Bank said it struggles to find strategic alternatives that would be value-enhancing for BE Aerospace (BEAV) after the company postponed its investor meeting to look into potential deals. Deutsche points out BE Aerospace's valuation is the second highest in its coverage universe, which it believes makes an outright acquisition less attractive. The firm thinks any deal, if consummated, would have to be "rather creative" and it keeps a Hold rating on the stock.
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August 29, 2014
16:21 EDTBEAVBE Aerospace files registration statement for spin-off of consumables segment
B/E Aerospace announced a further step in its previously announced separation of its Consumables Management Segment, consisting of the company’s aerospace distribution and energy services businesses, through a distribution, or spin-off, to the company’s shareholders. The company’s subsidiary KLX, to which the separated businesses will be transferred prior to the distribution, filed today a registration statement on Form 10 with the SEC. The spin-off would take the form of a pro rata distribution of all shares of common stock of KLX to B/E shareholders. The company expects the receipt of shares of KLX common stock by B/E shareholders to be tax-free for U.S. federal income tax purposes, except for cash received in lieu of fractional shares. The spin-off is subject to the approval of the Board of Directors of B/E and the satisfaction of certain other conditions. B/E may, at any time until the spin-off, decide to abandon the spin-off or modify or change the terms of the spin-off. Holders of B/E common stock as of the record date for the spin-off will not be required to make any payment, surrender or exchange any shares of B/E common stock or take any other action to participate in the spin-off. Additional information concerning KLX and the proposed spin-off is contained in the registration statement on Form 10.
August 27, 2014
08:30 EDTBEAVMorgan Stanley believes aerospace cycle concerns are overblown
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