From Bloomberg:
Finmeccanica SpA, Italy's biggest defense company, agreed to buy U.S. military electronics maker DRS Technologies Inc. for $4 billion (2.58 billion euros) to win Pentagon contracts.
Finmeccanica offered $81 for each DRS share, according to a press release issued early today in Rome. The offer was 4.9 percent more than yesterday's DRS closing price in New York of $77.19 and 27 percent more than the shares were trading before the Wall Street Journal reported the possible combination with Parsippany, New Jersey-based DRS on May 8.
Finmeccanica offered $81 for each DRS share, according to a press release issued early today in Rome. The offer was 4.9 percent more than yesterday's DRS closing price in New York of $77.19 and 27 percent more than the shares were trading before the Wall Street Journal reported the possible combination with Parsippany, New Jersey-based DRS on May 8.
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