Flight Winch Co. Breeze-Eastern Boosts Takeover Barriers

Law360, New York (October 5, 2011, 6:21 PM EDT) -- Breeze-Eastern Corp. on Wednesday strengthened its defenses against a hostile takeover bid, securing vows from its two largest private equity investors not to increase their stakes in the aircraft winch manufacturer and to back the company’s management.

Major shareholders Tinicum Capital Partners LP and Wynnefield Capital Inc. entered standstill agreements precluding them from acquiring additional Breeze-Eastern common stock for 18 months. Tinicum currently holds 35 percent of the company’s stock, while Wynnefield has 22 percent, according to the statement.

The investors also pledged their support for...
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