(Reuters) - Aircraft component supplier TransDigm Group Inc
The deal will give TransDigm more heft to compete with planemakers Boeing Co
The $122.50-per-share cash offer represents a 38 percent premium to Esterline's Tuesday close and is 62 percent more than the stock's closing price on July 19, when reports of the company exploring a potential sale emerged.
Shares of Esterline were trading at $116 before the opening bell. The company makes cockpit parts and sensors for commercial jetliners, business jets and military aircraft such as Lockheed Martin's
Reuters reported in July that Esterline was exploring a sale.
(Reporting by Arunima Banerjee in Bengaluru; Editing by Shailesh Kuber and Saumyadeb Chakrabarty)