Company to buy United Defense

Mon, Mar 7, 2005 (9:32 a.m.)

BAE Systems Plc, Europe's largest defense contractor, agreed to buy United Defense Industries Inc. for $3.97 billion to tap growing demand for artillery and armor, including the Bradley Fighting Vehicle used by the U.S. in Iraq.

BAE, which will become the Pentagon's sixth-largest contractor with the purchase, will pay $75 a share in cash for Arlington, Va.-based United Defense, Chief Financial Officer George Rose said today on a conference call.

archive

Back to top

SHARE