BAE Systems Shareholders Approve Acquisition of United Defense.ARLINGTON, Va. -- United Defense Industries, Inc. (NYSE NYSE See: New York Stock Exchange :UDI (1) (Unified Display Interface) A digital interface from the United Display Interface SIG that is designed to replace the analog VGA interface common on CRTs and flat panel monitors. UDI is expected to provide backward compatibility with DVI and HDMI interfaces. ) announced that the shareholders of BAE Systems BAE Systems British manufacturer of aircraft, missiles, avionics, naval vessels, and other aerospace and defense products. BAE Systems was formed (1999) from the merger of British Aerospace (BAe) with Marconi Electronic Systems. plc, at an extraordinary general meeting held today, have approved the acquisition of UDI by BAE Systems North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. Inc. The transaction has also been approved by the Committee on Foreign Investment in the United States The Committee on Foreign Investment in the United States (or CFIUS) is an inter-agency committee of the United States Government that reviews the national security implications of foreign acquisitions of U.S. companies or operations. and by regulatory authorities in Sweden, Turkey, Germany, and Norway. The Department of Justice is continuing to review the transaction under the Hart-Scott-Rodino Act Hart-Scott-Rodino Act Often used in risk arbitrage. Antitrust act administered by U.S. Department of Justice and the FTC that requires an investor to file a form with the government before he acquires an economic interest in the lesser amount of $15 million or 15% of the . Subject to regulatory approval and satisfaction of the other conditions to closing, the parties continue to anticipate completing the merger in mid-2005. About United Defense Industries United Defense designs, develops and produces combat vehicles, artillery, naval guns List of Naval Guns, listed below by country in caliber order. France
n. War materiel, especially weapons and ammunition. Often used in the plural. tr.v. mu·ni·tioned, mu·ni·tion·ing, mu·ni·tions To supply with munitions. used by the U.S. Department of Defense and allies worldwide, and provides non-nuclear ship repair, modernization and conversion to the U.S. Navy and other U.S. Government agencies. To learn more about United Defense, visit www.uniteddefense.com. About BAE Systems BAE Systems is an international company engaged in the development, delivery and support of advanced defense and aerospace systems in the air, on land, at sea and in space. BAE Systems North America is one of America's foremost national security, aerospace and information systems companies. It is a leading provider of electronic and information-based systems and knowledge-based solutions that meet its customers' mission effectiveness and operational safety needs. BAE Systems North America employs more than 30,000 people at sites across the United States and the United Kingdom and generates more than $5 billion in annual sales. Forward Looking Statements Information in this release may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future. These forward-looking statements involve risks and uncertainties. All forward-looking statements included in this release are based upon information available to United Defense as of the date of the release, and United Defense assumes no obligation to update any such forward looking statements. The statements in this release are not guarantees of future performance and actual results could differ materially from United Defense's current expectations. Numerous factors could cause or contribute to such differences. Such factors include risks and uncertainties specific to this transaction, including but not limited to adverse effects on the market price of the company's common stock and on the company's operating results because of failure to complete the transaction (due to failure to obtain stockholder or regulatory approvals or to satisfy all of the other conditions to the transaction). Please refer to United Defense's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2004 and in its other reports filed from time to time with the Securities and Exchange Commission for a further discussion of the factors and risks associated with its business. |
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