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December 3, 2008 3:05:29 PM CST


Military-Industrial Complex

Military-Industrial Complex news stories

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Italian Firm to Buy DRS Technologies

$5.3B sale gives Finmeccanica entry into US defense market

(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. More »

More about:  mergers and acquisitions electronics military equipment Military-Industrial Complex

Boeing to Appeal $40B Contract

CEO claims 'serious flaws' in bidding

(Newser) - Boeing vowed today to appeal a controversial $40 billion contract to build refueling tankers for the Air Force, the Wall Street Journal reports. "Our team has taken a very close look at the tanker decision and found serious flaws in the process," Boeing CEO Jim McNerney said. The Air Force awarded the contract to Northrop Grumman and Airbus, which ruffled US feathers by planning to build its tankers in France. More »

More about:  Boeing Airbus Air Force contractors Government Accountability Office EADS Military-Industrial Complex

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