Esterline Technologies draws TransDigm, sources say
13 September 2018 - 12:00 am UTC
TransDigm [NYSE:TDG] is among the parties that has been pursuing Esterline Technologies [NYSE:ESL], the aerospace parts maker exploring a sale, said three sources briefed on the matter.
Second round bids for the Bellevue, Washington-based company are expected to be collected in early October, said one of the sources and a sector advisor.
In mid-August, this news service reported Esterline had launched a sale process and distributed sales material to potential suitors. It subsequently collected initial bids, one of the sources said. Goldman Sachs is advising on the auction, which The Wall Street Journal first reported on in July.
In addition to TransDigm, two of the sources said they heard Eaton [NYSE:ETN] and The Carlyle Group [NASDAQ:CG] have been circling Esterline. It is unclear whether either party is currently in the mix.
Goldman Sachs declined to comment. Esterline, TransDigm, Eaton and Carlyle Group did not return requests for comment.
by Richard Tekneci in New York and Claudia Montoto in Fort Lauderdale
