SOURCE: VN Capital Management, LLC

December 10, 2015 11:40 ET

Shareholder Opposition Grows Over Proposed Group Merger of Breeze-Eastern Corporation

Large Shareholder Forms Group With VN Capital, Controlling 14.5% of Breeze-Eastern Shares

NEW YORK, NY--(Marketwired - December 10, 2015) - Following its press release on December 8, VN Capital Management was contacted by Breeze-Eastern Corporation shareholder Mr. Jeffrey Slemrod who similarly opposes the recently announced merger agreement between Breeze-Eastern (BZC) and TransDigm Group, Inc. (TDG). Mr. Slemrod controls 176,867 shares of Breeze-Eastern's common shares, representing nearly 1.8% ownership of the company.

Mr. Slemrod stated, "I oppose the proposed merger transaction for the same reasons articulated by VN Capital in their press release. I believe the proposed merger price of $19.61 substantially undervalues Breeze-Eastern; a well-positioned company, and the merger process appears not to have been conducted in the best interests of all shareholders. I contacted VN Capital to express my support for their opposition efforts."

Together, VN Capital and Mr. Slemrod constitute a group controlling 1,436,003, or approximately 14.5%, of Breeze-Eastern's outstanding common shares. VN Capital and Mr. Slemrod encourage other shareholders not to tender their shares to TransDigm and urge the Board of Directors of Breeze-Eastern to abandon the proposed merger and seek an alternative solution.

About VN Capital Management

VN Capital Management, LLC is a registered investment advisory firm located in New York, New York that was founded in 2002 by P. Donnell Noone and James T. Vanasek. The firm manages a hedge fund that holds a concentrated portfolio of small-cap equities.

About Breeze-Eastern Corporation

Breeze-Eastern is a leading global designer and manufacturer of high performance lifting and pulling devices for military and civilian aircraft, including rescue hoists, winches and cargo hooks and weapons lifting systems

Contact Information

    VN Capital Management, LLC
    James Vanasek
    (212) 393-1140