Servotronics raises TransDigm buyout price to $47.00 per share after unsolicited bid

SERVOTRONICS INC /DE/

Offer price increased from $38.50 to $47.00 per share in cash, a 22% premium.
Company termination fee raised to $12.5M; TransDigm reverse termination fee set at $25M.
Amendment triggered by unsolicited third-party proposal; board determined not superior.
TransDigm subsidiary will commence tender offer for all outstanding Servotronics shares.

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