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
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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