UK's GEC offers to buy Tracor

Article Abstract:

Austin, TX-based Tracor will be acquired by London, UK-based GEC, pending approval by various government authorities. The planned acquisition will consolidate Tracor's three major operating units into GEC's current holdings, allowing GEC's North American operations to expand and become the the sixth biggest defense electronics business in the US, with some 1,700 employees and about $2.3 billion in sales. For the past few years, the Tracor has shown an exceptional recovery to growth and profitability, after it previously sought bankruptcy relef from creditors in the courts.

United Kingdom, Asset sales & divestitures, Other Electrical Equipment and Component Manufacturing, Military Electronics, Article, GEC, Tracor

---

The real issues

Article Abstract:

Congressional leaders and state and local governments are against the takeover plan of some of the terminal operations at major US ports by Dubai Ports World (DPW) due to the fact that it presented an unacceptable high security risk because several of the 9/11 terrorists were from the United Arab Emirates or maintained bank accounts there. DPW has abandoned its takeover bid and has announced that it would sell or spin off its US operations.

United Arab Emirates, Mergers, acquisitions and divestments, Company acquisition/merger, Marine terminals

---

An end to Avondale's merger stalemate

Article Abstract:

Litton Industries and Avondale Industries have agreed to a $529 million merger, creating a diversified concern with revenues of almost $5.5 billion and a work force of over 40,000 people. Litton's offer of $39.50 per share beat Newport News Shipbuilding's offer of $470 million. Pending regulatory and shareholder approval, the deal is expected to be completed in the third quarter of 1999.

Diversified Companies, Litton Industries Inc., Avondale Industries Inc.

Similar abstracts:

• Abstracts: Ukraine's aerospace industry. No end in sight for Western Sahara dispute. Morocco said to produce nearly half of the world's hashish supply
• Abstracts: Optronic sensors for submarine periscopes and optronics mast systems
• Abstracts: Bob Dole to receive the Marshall Medal. Gold medal CCC camp. AOC names recipients of gold medal and silver medal
• Abstracts: Our first duty: to remember the sacrifices of Beirut. On men and duty. The strategic corporal versus the strategic cameraman
• Abstracts: A year of war between the wars? Continued turmoil throughout a troubled year. Bush: "Let's roll!"; tightening the noose in the war on terrorism

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.