Business & Insurance Update

Return to Article

BAE to Buy Armor Holdings

TSC Staff

Armor Holdings (AH Quote), a maker of safety equipment for the military and police, agreed to be acquired by defense company BAE Systems for $4.1 billion.

BAE will buy Armor Holdings for $88 a share, a 7% premium to its Friday closing price of $82.15. The transaction should close in the third quarter.

Shares of Armor Holdings were rising 4.5% to $85.87 in early trading Monday.