Why Triumph Group Stock Is Surging Higher Today
Aerospace component manufacturer Triumph Group (NYSE: TGI) has agreed to be acquired by private equity at a substantial premium to Friday's closing price.
The stock is jumping as a result, with shares up 35% as of 10:15 a.m. ET.
Triumph investors have flown through a lot of turbulence over the past decade. Triumph had attempted to use acquisitions to diversify its business making structures and components for commercial aerospace and defense platforms, but the deals were costly and many of the units acquired did not live up to expectations on profitability.
Source Fool.com
