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WEDNESDAY, NOVEMBER 25, 2009
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Italian Firm to Buy DRS Technologies

$5.3B sale gives Finmeccanica entry into US defense market

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(Newser) – Italy's biggest defense contractor has agreed to buy DRS Technologies Inc. for $5.3 billion and grab a share of America's defense market, the Wall Street Journal reports. Finmeccanica will purchase the defense-electronics firm for $81 per share, a 32% premium on share price, pending approval by Washington. The deal is expected to close by year's end.

A radar screen is seen in this undated file photo.
A radar screen is seen in this undated file photo.   ((c) Steve Parker)
A radar satellite at work in an undated file photo.
A radar satellite at work in an undated file photo.   ((c) leedsyorkshire)
Radar operators work in the radar room at Qatar International Airport, in Doha, Qatar, Wednesday, March 19, 2003.
Radar operators work in the radar room at Qatar International Airport, in Doha, Qatar, Wednesday, March 19, 2003.   (AP Photo)
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