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GD Agrees To Acquire Axsys Technologies, Expanding Sensor Offerings

DDN

Friday, June 5th, 2009

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By Calvin Biesecker General Dynamics [GD] yesterday said it has agreed to acquired Axsys Technologies [AXYS] for $54 per share in a cash deal that would expand the company's offerings in sensors and imaging systems by adding electro-optical and infrared products and related products. The transaction is valued at $643 million and is expected to close in the third quarter of 2009 pending approval by government regulators and Axsys' shareholders. Axsys announced in March that it was exploring options for…

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