May 12, 2008 -- Italian aerospace and defense contractor Finmeccanica Spa is on the verge of closing a deal to acquire U.S. Army supplier DRS Technologies, Inc. for $5.4 billion. The acquisition of DRS (U.S.), which makes engineering and electronics products for the military and intelligence agencies, would give Rome-based Finmeccanica a major foothold in the U.S. defense market. DRS had a market capitalization of $3.09 billion at the Friday closing price of $74.80.
Abstracted from MarketWatch
