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View Full Version : BAE in $4.5bn US takeover offer


Lov3ll
05-07-2007, 03:00 PM
BAE in $4.5bn US takeover offer

http://newsimg.bbc.co.uk/media/images/40232000/jpg/_40232503_challenger203.jpg
BAE builds the British Army's Challenger tanks

UK defence giant BAE Systems has agreed to buy US-based Armor Holdings in a deal worth $4.5bn (£2.27bn).
BAE said it would pay $88 a share for Armor Holdings, which makes military vehicles and bullet-proof vests.
Europe's biggest defence firm has been looking to expand in the key US market, where the firm has several lucrative contracts with the US government.
BAE recently announced a jump in pre-tax profits to £859m in 2006, from £557m the year before.
The company bought US firm United Defense Industries two years ago for £2.1bn.
BAE said it hoped to complete the takeover of Armor Holdings later this year, subject to shareholder approval and competition approval.
Shares in Armor Holdings gained on news of the offer, rising by 5.74% to $82.15 in early trade on the New York Stock Exchange.

http://news.bbc.co.uk/1/hi/business/6632613.stm
Jobu
05-07-2007, 03:10 PM
Did BIS okay this? If not, can they reject it?
SOG
05-07-2007, 09:55 PM
BAE said it hoped to complete the takeover of Armor Holdings later this year, subject to shareholder approval and competition approval............
Engine Mech
05-07-2007, 10:23 PM
Nice to see some one buying up american in stead of the other way around.
SBL
05-07-2007, 10:24 PM
Nice to see some one buying up american in stead of the other way around.

Oh right. Like nobody buys out US companies.
Engine Mech
05-07-2007, 11:03 PM
Nice to see two way traffic. I work for NZ company taken over by United Technologies P&W. I hope the brits try to change the american culture.
Jobu
05-08-2007, 01:20 PM
Nice to see two way traffic. I work for NZ company taken over by United Technologies P&W. I hope the brits try to change the american culture.

I hope the Americans tried to change your culture.
oldsoak
05-08-2007, 01:25 PM
- I think he means work culture. It is different and my personal take on it is that we find them pushy and they find us slow.
Engine Mech
05-08-2007, 07:26 PM
With british direction it will be interesting to see what they produce next. Or are the brits just after specific technologies to add to their portfolio.