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Armor Holdings Buyout

BAE will pay $4.1 billion.

Armor Holdings (AH) rose 5% after agreeing to a $4.1 billion buyout by Britain's BAE Systems.

Shareholders of Jacksonville, Fla., Armor Holdings will get $88 a share in cash. Shares rose $4.19 to $86.34.

"We are exceptionally pleased to join forces with BAE Systems plc, a global leader in the defense industry," the company said. "We would like to thank our shareholders for the constant support they have shown our company through numerous transactions and business initiatives that have enabled us to deliver superior investment returns. Importantly, we would also like to thank our management team and our Board of Directors for their dedication and stewardship over the years."

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