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Textron To Buy United Industrial For $1.1 Billion

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By Calvin Biesecker Textron [TXT] on Monday said it has agreed to acquire United Industrial Corp. [UIC] for $1.1 billion in cash, a deal that gives it a strong platform in the Unmanned Aircraft System (UAS) market while further expanding its portfolio of defense business. The deal is expected to close later this year and Textron expects it to be dilutive to earnings per share by 9 cents next year. For UIC shareholders, in particular those that have been with…

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