DRS Technologies' Stockholders Approve Agreement and Plan of Merger with Finmeccanica
25 Setembro 2008 - 1:26PM
Business Wire
DRS Technologies, Inc. (NYSE: DRS) announced today that
stockholders of the company voted to adopt the agreement and plan
of merger, and approve the merger with Finmeccanica S.p.A. (FNC.MI)
at DRS�s special meeting of stockholders held today at The Hilton
Parsippany in Parsippany, New Jersey, U.S.A. at 10:00 a.m. local
time. As announced on May 12, 2008, Finmeccanica and DRS jointly
signed a definitive merger agreement for Finmeccanica to acquire
all of the outstanding stock of DRS Technologies for US$81.00 per
share in cash in a transaction with an enterprise value of
approximately US$5.2 billion. The transaction is expected to close
in the fourth quarter of 2008 and is subject to the receipt of
regulatory approvals and other closing conditions. On August 28,
2008, Finmeccanica and DRS jointly announced that the U.S.
Department of Justice and Federal Trade Commission terminated the
waiting period under the Hart-Scott-Rodino Antitrust Improvements
Act of 1976, as amended (HSR), in connection with DRS�s proposed
merger with Finmeccanica. Headquartered in Italy, Finmeccanica is a
leading global high-technology company with core competencies in
the design and manufacture of helicopters, civil and military
aircraft, aero structures, satellites, space infrastructure,
missiles, defense electronics and security. The company employs
more than 60,000 people worldwide. Finmeccanica North America
employs more than 2,100 employees at 32 sites across the U.S. DRS
Technologies, headquartered in Parsippany, New Jersey, is a leading
supplier of integrated products, services and support to military
forces, intelligence agencies and prime contractors worldwide. The
company employs approximately 10,500 people. For more information
about DRS Technologies, please visit the company�s web site at
www.drs.com. SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES
LITIGATION REFORM ACT OF 1995: This press release contains
forward-looking statements, within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, that are based on
management's beliefs and assumptions, current expectations,
estimates and projections. Such statements, including statements
relating to DRS Technologies� expectations for future financial
performance, are not considered historical facts and are considered
forward-looking statements under the federal securities laws. These
statements may contain words such as �may,� �will,� �intend,�
�plan,� �project,� �expect,� �anticipate,� �could,� �should,�
�would,� �believe,� �estimate,� �contemplate,� �possible� or
similar expressions. These statements are not guarantees of the
Company�s future performance and are subject to risks,
uncertainties and other important factors that could cause actual
performance or achievements to differ materially from those
expressed or implied by these forward-looking statements and
include, without limitation, demand and competition for the
Company�s products and other risks or uncertainties detailed in the
Company�s Securities and Exchange Commission filings. Given these
uncertainties, you should not rely on forward looking statements.
Such forward-looking statements speak only as of the date on which
they were made, and the Company undertakes no obligations to update
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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