Woodward and Hexcel terminate merger agreement

Composites producer Hexcel and Woodward, a manufacturer of control systems and components for aircraft engines, have terminated their merger agreement, previously announced in January, under which the parties had agreed to combine in an all-stock merger of equals.

The termination was in response to the increasing impact on both the aerospace and industrial sectors, and global markets generally, resulting from the health crisis caused by the coronavirus (COVID-19) outbreak.

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