Acquisition of United Defense by BAE Systems Cleared by Department of Justice; Closing Expected June 24, 2005
24 Juin 2005 - 1:25PM
Business Wire
United Defense Industries, Inc. (NYSE:UDI) announced that it has
been notified that the U.S. Department of Justice has granted
termination of the Hart-Scott-Rodino Act waiting period with
respect to the proposed acquisition of UDI by BAE Systems. The
parties are now free to close the proposed acquisition. The closing
is expected to occur on or about June 24, 2005, assuming the
satisfaction of customary conditions to closing. About United
Defense Industries United Defense designs, develops and produces
combat vehicles, artillery, naval guns, missile launchers and
precision munitions used by the U.S. Department of Defense and
allies worldwide, and provides non-nuclear ship repair,
modernization and conversion to the U.S. Navy and other U.S.
Government agencies. To learn more about United Defense, visit
http://www.uniteddefense.com. Forward Looking Statements
Information in this release may involve guidance, expectations,
beliefs, plans, intentions or strategies regarding the future.
These forward-looking statements involve risks and uncertainties.
All forward-looking statements included in this release are based
upon information available to United Defense Industries, Inc., as
of the date of the release, and we assume no obligation to update
any such forward-looking statements. The statements in this release
are not guarantees of future outcomes and actual results could
differ materially from our current expectations. Numerous factors
could cause or contribute to such differences. Such factors include
risks and uncertainties specific to this transaction, including but
not limited to adverse effects on the market price of the company's
common stock and on the company's operating results because of
failure to complete the transaction (due to failure to satisfy all
of the conditions to the transaction) or the timing of the closing
of the transaction. Please refer to United Defense's Annual Report
on Form 10-K for the year ended December 31, 2004 and in its other
reports filed from time to time with the Securities and Exchange
Commission for a further discussion of the factors and risks
associated with its business.
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