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BUSINESS
March 8, 2005 | From Bloomberg News
BAE Systems, Europe's biggest defense company, agreed to buy United Defense Industries Inc. for $3.97 billion to tap demand for artillery and armor, including the Bradley Fighting Vehicle used by the U.S. in Iraq. BAE will pay $75 a share in cash for Arlington, Va.-based United Defense, 29% more than the closing price Friday. The purchase, the biggest ever of a U.S.
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BUSINESS
March 8, 2005 | From Bloomberg News
BAE Systems, Europe's biggest defense company, agreed to buy United Defense Industries Inc. for $3.97 billion to tap demand for artillery and armor, including the Bradley Fighting Vehicle used by the U.S. in Iraq. BAE will pay $75 a share in cash for Arlington, Va.-based United Defense, 29% more than the closing price Friday. The purchase, the biggest ever of a U.S.
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BUSINESS
December 20, 2001 | Bloomberg News
Integrated Defense Technologies Inc., an electronics maker whose products are used on F-16 fighter planes and Tomahawk missiles, filed Wednesday to raise as much as $125 million through an initial public stock offering in 2002. The Huntsville, Ala.-based company didn't give specifics but said it plans to capitalize on the expected surge in defense spending. Another defense contractor, United Defense Industries Inc., raised $401 million last week in one of the year's biggest IPOs.
BUSINESS
December 20, 2001 | Bloomberg News
Integrated Defense Technologies Inc., an electronics maker whose products are used on F-16 fighter planes and Tomahawk missiles, filed Wednesday to raise as much as $125 million through an initial public stock offering in 2002. The Huntsville, Ala.-based company didn't give specifics but said it plans to capitalize on the expected surge in defense spending. Another defense contractor, United Defense Industries Inc., raised $401 million last week in one of the year's biggest IPOs.
BUSINESS
January 24, 2002 | Bloomberg News
United Defense Industries Inc., controlled by Carlyle Group Inc., would get $4.1 billion from the Pentagon over the next five years for its Crusader artillery system, according to internal budget documents. United Defense got 16% of its sales last year from the Crusader and went public largely in anticipation of the program, analysts said. The Pentagon's budget calls for $475 million in fiscal 2003 for research, with procurement increasing to $1billion by 2007.
BUSINESS
May 14, 2003 | From Bloomberg News
Boeing Co. has been given an extra two years to design and develop the Army's multibillion- dollar family of armored combat vehicles because more time is needed for testing, the General Accounting Office said Monday. The move by the GAO pushes the target date for the first fully equipped combat units to 2013. The Army has said that the Future Combat Systems is its highest-priority program, and the Pentagon has budgeted $22 billion through 2009 for development and early production.
BUSINESS
December 7, 2004 | From Bloomberg News
Northrop Grumman Corp., the third-largest U.S. defense company, is joining with United Defense Industries Inc., maker of the Bradley fighting vehicle, to design an armored vehicle with a laser to defend against attack. The battery-powered, solid-state laser would be used to destroy enemy rockets, artillery and mortar shells, Northrop spokesman Bob Bishop said. The technology-sharing agreement is for three years, he said, declining to disclose other terms.
BUSINESS
November 22, 2002 | Randy Whitestone, Bloomberg News
Louis V. Gerstner, who as head of IBM Corp. increased its market value twentyfold, was named chairman of Carlyle Group Inc., an investor in defense, technology and telecommunications whose returns have declined in recent years. Gerstner, 60, succeeds former Defense Secretary Frank Carlucci, who becomes chairman emeritus of the Washington buyout firm that is a haven for former government officials.
NATIONAL
June 20, 2002 | From Reuters
WASHINGTON -- Maneuvering to save jobs and technologies threatened by a planned cancellation of the Crusader howitzer, the Senate struck a compromise Wednesday that allows the Army to wrap up a study of its artillery needs before the Pentagon kills the $11-billion project. The White House dropped a threat to veto any bill that overrode the Pentagon's bid to scrap the weapon without further delay so long as it could shift funds to other programs once the Crusader is canceled.
BUSINESS
October 23, 2001 | Bloomberg News
Investors opened their wallets Monday for the first billion-dollar initial public stock offering since July, as insurance firm Principal Financial Group priced its new shares. The Des Moines-based company sold 100 million shares at $18.50 each, raising $1.85 billion. It's the first billion-dollar IPO since July 19, when consulting firm Accenture raised $1.67 billion. The IPO market all but dried up in the aftermath of the Sept. 11 terrorist attacks. Only two other IPOs have been sold in October.
BUSINESS
May 3, 2003 | Peter G. Gosselin, Times Staff Writer
U.S. companies cut their payrolls again in April, pushing the nation's unemployment rate up to 6% and sending job losses for the last three months above the half-a-million mark, the Labor Department reported Friday. The April rate tied December's as the highest in almost nine years and, together with losses of a net 48,000 jobs last month and 525,000 since February, suggested that the economy lost virtually all its momentum during the Iraq war.
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