The deal is expected to make Italy's leading defense company a 'key player' in the US defense market, the report said.
Rome-based Finmeccanica will pay $81 per share in cash, representing a 32% premium over DRS's 30 day average stock price.
The deal includes $1.2 billion in net debt, the Associated Press report said.
While Finmeccanica boosts its international role as a key supplier of defense and security systems, DRS hopes the new company will be able to bid on large-scale projects...
So we were a gift to italy i guess its better than a horse head Just fyi folks most of the employees of DRS didnt like this move at all and most of the ohio employees love their jobs but think the company is pure BS it's alot of bigwigs and blowhards wasting money and time while thumbing their noses at the common worker !