BAE Systems North America buys United Defense Industries for $4.2 billion
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Manufacturing News, Source : TheManufacturer.com
Published : 07 Mar 2005 20:35
Defense contractor United Defense Industries announced today that it has entered into a merger agreement with BAE Systems North America, the US subsidiary of BAE Systems.
With the assumption of United Defense’s $217.7 million of debt, the value of the transaction would be approximately $4.2 billion. The closing of the transaction is subject to stockholder approval and necessary regulatory approvals, and is expected to be completed in the second quarter of 2005.
This is BAE’s largest single US acquisition in its history, following a $700 million purchase of five US businesses in 2004.
United Defense designs, develops and produces combat vehicles, artillery, naval guns, missile launchers and precision munitions used by the US Department of Defense and allies worldwide, and provides non-nuclear ship repair, modernization and conversion to the US Navy and other US government agencies.
BAE designs, manufactures and supports military aircraft, surface ships, submarines, fighting vehicles, radar, avionics, communications, electronics and guided weapon systems worldwide.
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