SAN FRANCISCO (Thomson Financial) - Italian aerospace and defense company Finmeccanica SpA has agreed to acquire DRS Technologies Inc. for 3.4 billion euros ($5.28 billion), or $81 per share, the Wall Street Journal reported late Monday.
The report cited a person familiar with the transaction.
Shares of Parsippany, N.J.-based DRS Technologies, a defense contractor, closed at $77.19 on Monday. Gabriel Madway gm COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.