Precision Castparts Corp. and TransDigm Group Inc. are bidding for rival aircraft component maker McKechnie Aerospace, which may fetch more than $1 billion, said people with knowledge of the discussions.
Carlyle Group, the Washington-based buyout firm, also submitted an offer this week for closely held McKechnie, owned by New York-based private-equity firm JLL Partners Inc. and by Morgan Stanley’s buyout unit, said the people, who spoke on the condition of anonymity because the talks are private. McKechnie’s owners may agree to a sale as soon as next week, the people said.
