
Bahrain signed a letter of offer and acceptance with the U.S. to buy the Raytheon [RTN] Patriot air and missile defense system in a Foreign Military Sale (FMS), the company said Tuesday. This milestone will allow the U.S. government to start contract negotiations with Raytheon for production of the systems. The company did not reveal how many systems and missiles are included in the agreement. This development comes after the State Department previously approved a $2.5 billion FMS to Bahrain…