Sundstrand Makes Offer for Milton Roy: Milton...
From Times Staff and Wire Reports
Sundstrand Makes Offer for Milton Roy: Milton Roy Co. said it received a $28-a-share takeover offer from Sundstrand, which already owns 15% of the maker of measuring instrument systems. St. Petersburg, Fla.-based Milton Roy said its board will evaluate the offer, which values the company at about $162.4 million. Milton Roy’s shares jumped $3.50 to $26.875 after Sundstrand, a Rockford, Ill.-based aerospace parts firm, announced the buyout offer. John McNamara, Milton Roy’s controller, said the company desired to remain independent. Its board will respond to the bid by July 30, he said.
