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Sierra Nevada Corp. To Acquire SpaceDev

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Sierra Nevada Corp. (SNC) yesterday said it plans to acquire space technology company SpaceDev, Inc. [SPDV] for $38 million, allowing it to form an integrated space technologies business unit. The proposed acquisition has been approved by SpaceDev's board of directors and will be presented to its shareholders for a vote in December. The agreed purchase price, which after certain deductions is expected to be between 68 cents and 72 cents per share, represents a premium of between 42 and 50…

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