TransDigm withdraws from planned $960 million Stellant Systems acquisition

The Cleveland, Ohio-based manufacturer said it "remains committed to its disciplined acquisition strategy and continues to evaluate acquisition opportunities that it believes will enhance long-term shareholder value."

The company raised its annual profit forecast in May after posting a better-than-expected quarterly profit on strong aftermarket demand.

TransDigm develops, manufactures and delivers specialized aircraft components used in almost every commercial and military aircraft in service.

Defense tech co Stellant designs and makes high-power radio frequency and microwave amplification systems used in military, space, communications, medical and industrial applications.

TransDigm said on Monday it was withdrawing from its proposed $960 million acquisition of Stellant Systems, a portfolio company of Arlington Capital Partners.

The company recently concluded that pursuing the transaction through the regulatory review process was no longer in its best interest, TransDigm said in a regulatory filing.