LMI Aerospace to buy Valent Aerostructures for about $246 million
(Reuters) - LMI Aerospace (LMIA.O), which supplies components to the aerospace and defense industries, said it will buy Valent Aerostructures for about $237 million, plus about $9.7 million of certain retained obligations.
LMI Aerospace is expected to generate over $480 million in revenue based on projected 2013 results of the combined entities, the company said in a statement.
The deal is expected to close Dec 31, 2012, LMI Aerospace said.
(Reporting by Mridhula Raghavan in Bangalore; Editing by Joyjeet Das)