Italian Firm to Buy DRS Technologies

$5.3B sale gives Finmeccanica entry into US defense market
By Neal Colgrass,  Newser Staff
Posted May 12, 2008 10:30 PM CDT
Italian Firm to Buy DRS Technologies
A radar screen is seen in this undated file photo.   ((c) Steve Parker)

Italy's biggest defense contractor has agreed to buy DRS Technologies Inc. for $5.3 billion and grab a share of America's defense market, the Wall Street Journal reports. Finmeccanica will purchase the defense-electronics firm for $81 per share, a 32% premium on share price, pending approval by Washington. The deal is expected to close by year's end. (Read more military equipment stories.)

We use cookies. By Clicking "OK" or any content on this site, you agree to allow cookies to be placed. Read more in our privacy policy.
Get the news faster.
Tap to install our app.
X
Install the Newser News app
in two easy steps:
1. Tap in your navigation bar.
2. Tap to Add to Home Screen.

X