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DRS Had Higher Offer For Sale From Another Foreign Company

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By Calvin Biesecker DRS Technologies [DRS] disclosed last week that a foreign company offered it more money for a potential acquisition than the $81 per share it eventually accepted from Italy's Finmeccanica but that its board of directors decided against the higher offer, saying it carried more risk because it wasn't final and because terms and conditions hadn't been offered. However, DRS used the $85 per share offer it received from Company X, as the other foreign firm is referred…

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