Finmeccanica follows through

May 14, 2008 by Dagpotter
Filed under: Acquisitions, Congress, DRS Technologies, Finemeccanica, IT, Italy, augusta westland, production program 

Bump - Fresh off good financial reports for the quarter, EADS is now looking at DRS Technologies as well. See an article here. This makes it sound like DRS might be a good buy.

As rumored this weekend Finmeccanica bought DRS today. The deal is for around $5 B. See an article here. This is the biggest acquisition so far by an European company. DRS has been an attractive take over target for a few years, one of the reasons its stock was so high. If this deal can make it through the necessary regulatory and legal review it will be quite stunning. Prior to this BAE and EADS had been doing smaller acquisitions, under a $1B. In today’s political environment due to the KC-45 deal and it being an election year it should be interesting to see Congress’s reaction.

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One Response to “Finmeccanica follows through”

  1. DRS reports | Defense Procurement News on August 9th, 2008 6:02 am

    [...] DRS also reported a 40% increase in profits and a record backlog of over $1 B dollars. As discussed here, Finmeccanica has agreed to buy the American company. This would be one of the largest foreign [...]

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