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General Dynamics said it postponed a merger.

January 09, 1986

Citing its suspension last month from being awarded future government contracts, the company said it has indefinitely postponed a merger plan with Cessna Aircraft. According to a previous announcement, General Dynamics owns more than 95% of outstanding Cessna common stock as a result of a $30-per-share cash tender offer. General Dynamics' defense contracts were frozen Dec. 3 as a result of indictments against NASA administrator James Beggs and three General Dynamics employees in an investigation involving General Dynamics' building of a weapons system by the firm's Pomona division.

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