FINMECCANICA AND DRS TECHNOLOGIES ANNOUNCE RECEIPT OF CFIUS APPROVAL
15 Oct 08. Finmeccanica S.p.A. (FNC.MI) and DRS Technologies, Inc. (NYSE: DRS) announced today that the Committee on Foreign Investment in the United States (CFIUS) has completed its review of the proposed merger of DRS with Finmeccanica and is permitting the merger to proceed.
As announced on May 12, 2008, Finmeccanica and DRS entered into a definitive merger agreement in which Finmeccanica will acquire DRS for US$81 per share. Completion of the CFIUS review was one of the conditions for the consummation of the merger. The merger continues to be subject to customary closing conditions for a transaction of this type, and it is expected that closing will occur in due course.