Raytheon to Buy Applied Signal for $490M
Raytheon signed an agreement to buy Applied Signal Technology for $38 a share, or about $490 million.
WALTHAM, Massachusetts (
) --
Raytheon
(RTN) - Get Report
signed an agreement to buy
Applied Signal Technology
(APSG)
for $38 a share, or about $490 million.
Applied Signal shares closed Friday at $35.02, making the deal's price almost a 9% premium.
The acquisition is expected to close in the first quarter of 2011, and isn't expected to have a material effect on Raytheon's earnings, the company said in a press release Monday.
Applied Signal provides advanced intelligence, surveillance, and reconnaissance systems.
-- Written by Joseph Woelfel
>To contact the writer of this article, click here:
Joseph Woelfel
>To submit a news tip, send an email to:
.
Loading ...