LMI Aerospace agrees to buyout by Belgian company

LMI Aerospace, a St. Charles-based provider of aerospace components and engineering services, said late Thursday it has agreed to be acquired by Sonaca Group, a Belgium-based aerostructures company.

The merger agreement calls for LMI shareholders to receive $14 per share in the all-cash deal, officials said. Sonaca’s offer represents a 52 percent premium over LMI’s closing price Thursday of $9.19 per share, and a 78 percent premium over LMI’s six-month volume-weighted average per-share price through Thursday of $7.88.

LMI had 13,632,641 shares of common stock outstanding as of Nov. 3, which would put the deal’s value at nearly $190.9 million.

The deal is expected to close midyear, subject to LMI shareholder approval and regulatory approvals.

Read more: St. Louis Business Journal, St. Louis Post-Dispatch

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