TAT just announced a possible change of control. TAT's majority owner appears to have racked up so much debt that it may have to give up its ownership stake in the company to help repay obligations.
Chances are, the lender wants nothing to do with the company itself, and will therefore want to sell its stake, potentially putting the whole company in play. Nothing is assured here, however. But a potential catalyst has emerged for a company trading at a 40% discount to its net current assets.
Disclosure: Author has a long position in shares of TATT