B/E Aerospace Mulls Possible Sale
Wellington, Fla. (AP) -- Shares of B/E Aerospace jumped more than 9 percent Monday in premarket trading, after the maker of airplane seats, overhead compartment bins and many of other things you see on a commercial flight, said that it could put itself on the block.
That is one of the strategic options the company said over the weekend that it was considering, as well as merging with another company or spinning off one of its businesses.
B/E Aerospace stock rose $8.34 to $88.96 before the opening bell. It has a market capitalization of about $9.4 billion.
An investor meeting scheduled for Monday in Winston-Salem, North Carolina, was cancelled.
The company has hired Citigroup as a financial adviser and Shearman & Sterling LLP as its legal adviser.
B/E Aerospace Inc., which is based in Wellington, makes lighting systems, ovens and other products for commercial and business aircrafts.
The company late last month topped Wall Street expectations for the first quarter and shares are up almost 40 percent over the past year.