US Government takes a step to allow DRS purchase by Finmeccanica

October 27, 2008 by Dagpotter · Comment
Filed under: Acquisitions, DRS Technologies, Finemeccanica, IT, Italy 

The US Government’s Committee on Foreign Investment approved the planned acquisition of DRS Technologies by Italian company Finmeccanica. The deal is worth over $5 B and is structured as a stock purchase at $81 or so a share. DRS traded today at just over $80. DRS had long been rumored as an attractive takeover target, and the purchase by a European company again highlights their desire to get into the US Defense market.

See a short article at NJ.com.

Cross posted at BNET.

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Looking to buy DRS

May 11, 2008 by Dagpotter · Comment
Filed under: Acquisitions, Finemeccanica, Italy, SETA, production program 

This article discusses the idea that Finmeccanica, the Italian defense conglomerate, is looking at DRS Technology for an American acquisition. Like EADS and BAE the Italian company has been expanding its presence in the US. Its helicopter arm, Augusta Westland, won the VH-71 Presidential helicopter teamed with Lockheed Martin and is also trying to win the CSAR-X recompete post-protest. DRS which makes advanced sensors and electronics while providing SETA services has long been an attractive take over target. It’s stock though has done very well recently and for Finmeccanica to buy it would require a substantial investment. Read more

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