WELLINGTON, Fla.–(BUSINESS WIRE)–Nov. 25, 2014– B/E Aerospace, Inc. (“B/E Aerospace” or the “Company”) (NASDAQ: BEAV) announced today that its board of directors (the “Board”) has approved the separation of its Consumables Management Segment, consisting of B/E Aerospace’s aerospace distribution and energy services businesses, which will be known as KLX Inc. (“KLX”), through a dividend distributing all of the shares of KLX common stock on a pro rata basis to the holders of B/E Aerospace’s common stock.
For every two shares of B/E Aerospace common stock held, B/E Aerospace’s shareholders will receive one share of KLX common stock. No fractional shares of KLX will be issued. Shareholders will receive cash in lieu of fractional shares. The Board has set a record date of December 5, 2014 and a distribution date of December 16, 2014.(…)
