Aerospace Group:

Business/Financial

Veritas Stays Busy, Teams With Evergreen To Acquire Cubic In $2.8 Billion Deal

By Cal Biesecker

Monday, February 8th, 2021

SHARE:

Veritas Stays Busy, Teams With Evergreen To Acquire Cubic In $2.8 Billion Deal

Bradley Feldmann, chairman, president and CEO of Cubic. Photo: Cubic Corp.

Cubic Corp. [CUB] on Monday said it has entered into an agreement with the private equity firms Veritas Capital and Evergreen Coast Capital to be acquired for $70 per share in cash, a deal with an enterprise value of $2.8 billion including debt. For Veritas, the deal for the defense and transportation technology company follows the $2.3 billion acquisition last week of Northrop Grumman’s [NOC] federal information technology (IT) services business and a pending $7.1 billion deal for the government…

Congress

Dem Lawmakers Want To Codify Trump’s Push For More Defense Contractor Accountability

A group of four Congressional Democrats want to codify President Donald Trump’s push to hold defense firms accountable for prioritizing production investments over paying out stock buybacks, and are seeking […]

Unmanned Systems

In Response To Flag Concerns, DoD Looks To Reduce Drone Prices, As Order for 30,000 Looms

The Pentagon is bargain shopping for Group 1 drones, as other countries, including Ukraine and China, have taken advantage of consumer electronics-level prices to bolster their stables. “In last spring’s […]

Pentagon

Amid Questions On Weapons Stockpiles, Caine Says U.S. Has ‘Sufficient’ Munitions For Iran Operation

Pentagon leaders on Wednesday sought to quell concerns over the rate at which the U.S. is employing critical munitions in its military strike campaign against Iran, with lawmakers also pressing […]

Congress

SASC Leaders Criticize Trump’s Defense Strategy, Press Colby On Policy Shifts

Senate Armed Services Committee (SASC) leadership on Tuesday criticized the Trump administration’s new National Defense Strategy (NDS) and pressed the Pentagon’s top policy official to explain the document’s priorities. SASC […]