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

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    VN Capital Management, LLC
    James Vanasek
    (212) 393-1140
    jtv@vncapital.net