Finmeccanica buys out DRS Technologies

  • 19-Jun-2008 09:08 EDT

Finmeccanica S.p.A. and DRS Technologies Inc. signed an agreement under which Finmeccanica will acquire 100% of DRS’ stock for $81 per share in cash, totaling $5.2 billion. DRS will operate as a wholly owned subsidiary, maintaining its current management and headquarters. For Parsippany, NJ-based DRS, the combination with Finmeccanica will enable it to better compete in the global military and security market. For Finmeccanica, the transaction will boost its existing position, enabling it to enhance the product and service solutions it provides to its customers.

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