This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/business/6925037.stm
The article has changed 3 times. There is an RSS feed of changes available.
Version 0 | Version 1 |
---|---|
BAE concludes major US takeover | BAE concludes major US takeover |
(about 6 hours later) | |
Defence firm BAE Systems has concluded its $2.2bn takeover of US military manufacturer Armor Holdings. | |
The deal, which will hugely expand BAE's US business, was announced in May but was subject to regulatory approval, which has now been completed. | The deal, which will hugely expand BAE's US business, was announced in May but was subject to regulatory approval, which has now been completed. |
BAE faces a probe by US authorities into whether its business dealings comply with anti-corruption laws. | BAE faces a probe by US authorities into whether its business dealings comply with anti-corruption laws. |
Its role in a huge 1980s arms deal with Saudi Arabia has come under scrutiny, but the firm has denied any wrongdoing. | Its role in a huge 1980s arms deal with Saudi Arabia has come under scrutiny, but the firm has denied any wrongdoing. |
Analysts have warned that the US Department of Justice probe could potentially hurt BAE's business in the country. | Analysts have warned that the US Department of Justice probe could potentially hurt BAE's business in the country. |
The Armor deal, which could ultimately increase BAE's sales by $3bn (£1.6bn), was approved by the US government last month. | The Armor deal, which could ultimately increase BAE's sales by $3bn (£1.6bn), was approved by the US government last month. |
"The acquisition is a significant step in the implementation of BAE's strategy to develop as the premier global defence and aerospace company," it said in a statement. | "The acquisition is a significant step in the implementation of BAE's strategy to develop as the premier global defence and aerospace company," it said in a statement. |