Rotorcraft
PHI Buying HNZ's Asia-Pacific Operations
The deal represents a 43 percent premium for HNZ shareholders.

U.S.-based PHI and Canada's HNZ announced a two-part transaction yesterday wherein HNZ's long-time CEO Don Wall will acquire all of HNZ's outstanding stock for $188.8 million, after which PHI will buy HNZ's operations in Australia, New Zealand, Papua New Guinea and the Philippines from Wall for an undisclosed sum. The deal represents a 43 percent premium for HNZ shareholders.