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twitterCompany to buy United Defense
Monday, March 7, 2005 | 9:32 a.m.
BAE Systems Plc, Europe's largest defense contractor, agreed to buy United Defense Industries Inc. for $3.97 billion to tap growing demand for artillery and armor, including the Bradley Fighting Vehicle used by the U.S. in Iraq.
BAE, which will become the Pentagon's sixth-largest contractor with the purchase, will pay $75 a share in cash for Arlington, Va.-based United Defense, Chief Financial Officer George Rose said today on a conference call.
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