Britain's Cobham plc said on Wednesday that it has agreed to acquire the Global Microwave Systems (GMS) unit of The Allied Defense Group [ADG] for $26 million in cash in a deal that Cobham said would give it a physical presence on the West Coast of the United States for its intelligence and surveillance business. ADG, which is suffering through a cash shortage which has forced it to curtail its spending and reschedule paying some of its own bills, said…
Cobham To Acquire ADG Microwave Systems Unit For $26 Million
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