HSR wait ends early in proposed merger of Finmeccanica, DRS Technologies

By Lisa Kerner

Charlotte, N.C., Aug. 28 - The Federal Trade Commission announced it granted early termination of the Hart-Scott-Rodino antitrust review period in the proposed merger of Finmeccanica, SpA and DRS Technologies, Inc.

It was previously reported that Finmeccanica will acquire DRS Technologies stock for $81 per share in cash in its bid to enter the U.S. security and defense market.

Finmeccanica said the transaction is valued at $5.2 billion including $1.2 billion in net debt.

Based in Rome, Finmeccanica designs and manufactures helicopters, civil and military aircraft, aero structures, satellites, space infrastructure, missiles and defense electronics and security.

DRS Technologies, based in Parsippany, N.J., supplies integrated products, services and support to military forces, government agencies and prime contractors.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.