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March 30, 2013
19:04 EDTEDACEDAC board hasn't determined if MidOcean proposal is superior to GB Aero's
As previously announced, GB Aero Engine Merger Sub Inc. has commenced a cash tender offer for all of the outstanding shares of common stock of EDAC at a price of $17.75 per share. The tender offer and withdrawal rights are scheduled to expire at midnight, New York City time, on Tuesday, April 23, unless extended or earlier terminated in accordance with the terms of the merger agreement. In a press release, EDAC's board said it has not made a determination that the unsolicited acquisition proposal from MidOcean and PSP constitutes a superior proposal. Moreover, EDAC's board of directors has not withdrawn, qualified, modified, changed or amended its recommendation with respect to the tender offer of GB Aero Engine Merger Sub Inc. described above, and the merger agreement with GB Aero Engine LLC and GB Aero Engine Merger Sub Inc. remains in effect. EDAC's board of directors continues to unanimously recommend that EDAC's shareholders accept the offer by GB Aero Engine Merger Sub Inc. and tender their shares of EDAC common stock pursuant to such tender offer.
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