Qioptiq logo Raytheon

BUSINESS NEWS

20 Mar 08. EADS (EAD.PA: Quote, Profile, Research) has dropped plans to introduce a “golden share” and is mulling instead a cap on voting rights for shareholders to prevent a hostile takeover of the company, dpa newswire said.
EADS plans to cap voting rights of any shareholder at 15 percent, German news agency Deutsche Presse-Agentur reported on Thursday, citing unidentified people in the industry. German carmaker Daimler (DAIGn.DE: Quote, Profile, Research) said no decision had been taken, while EADS and the German economy minstry declined to comment when contacted by Reuters. The dpa report echoed a similar article by the Financial Times newspaper which reported on March 7 that France and Germany are finalising changes to EADS’s corporate by-laws. The countries want to prevent any investor considered predatory from owning more than 15 percent, the FT reported. German aerospace coordinator Peter Hintze said at the time talks were taking place to determine whether a “golden share” should be created to defend the interests of Germany and France. Any such move would have to be agreed by the EADS annual shareholder meeting in May. The European Commission warned France and Germany not to introduce “golden shares”, which give states special rights in publicly-listed companies. (Source: Reuters)

12 Mar 08. L-3 Communications (NYSE: LLL) has entered into an agreement to acquire Northrop Grumman’s Electro-Optical Systems (EOS) business for $175m in cash. EOS is a leader in night vision technology and electro-optical products for military, commercial and public safety customers. The EOS business generated approximately $190m of sales for the year ended Dec. 31, 2007, and is expected to be immediately accretive to L-3’s earnings. The acquisition should be completed in the second quarter of 2008, subject to standard regulatory approvals. (Source: Bloomberg)

26 Mar 08. Oracle Corp (ORCL.O: Quote, Profile, Research) reported a higher quarterly profit on Wednesday, but its 16 percent rise in new software sales was at the low end of expectations, and its shares fell more than 8 percent. Net income rose 25 percent to $1.34bn, or 26 cents per share, in Oracle’s fiscal third quarter ended February 29, from $1.03bn, or 20 cents, a year earlier. Sales of new software, which investors look to as a key indicator of the future financial performance of business software makers, rose to $1.6bn in the quarter, from $1.4bn a year earlier. (Source: Reuters)

19 Mar 08. KOR Electronics has purchased the Government Solutions subsidiary, Paragon Dynamics, Inc. (PDI), from Zanett, Inc. for cash. Pagemill Partners served as exclusive financial advisor to KOR Electronics. Founded in 1986, KOR Electronics is an aerospace defense technology company providing domestic and international customers with advanced military electronics equipment and system solutions. Headquartered in Cypress, CA, with offices in Long Island, NY, and Washington DC, the company produces equipment that serves mission critical operational requirements as well as laboratory simulation, testing and training needs. KOR Electronics is solely focused in support of the defense and intelligence electronics markets. Founded in 1997, PDI has been a wholly owned subsidiary of Zanett Government Solutions. Based in Aurora, CO, with offices in California and Washington, DC, PDI provides innovative systems, software and mission engineering solutions to a variety of Intelligence Agencies, Department of Defense (DoD), and aerospace clients. The firm specializes in system design; architecture and integration; software development and implementation; and mission operations, analysis and support. PDI has direct experience in government and commercial satellite, DoD Intelligence Community, and IT infrastructure programs. (Source: ASD Network)

26 Mar 08. Azure Dynamics Corporation (TSX: AZD & LSE: ADC) a leading developer of hybrid electric and electric powertrains for commercial vehicles, today a

Back to article list