Summary
General Dynamics Corporation (GD) announced a significant strategic acquisition on August 6, 2001, agreeing to purchase Motorola's Integrated Information Systems Group for $825 million in cash, plus the assumption of certain liabilities. This move signals an aggressive expansion for General Dynamics, aiming to bolster its presence in the information systems sector. The deal, approved by both companies' boards, is subject to regulatory approval and is anticipated to close within 60 days. Investors should monitor the regulatory review process and the integration plans for the acquired business.
Key Highlights
- 1General Dynamics to acquire Motorola's Integrated Information Systems Group.
- 2Purchase price is $825 million in cash.
- 3Assumption of certain liabilities and ongoing obligations included in the deal.
- 4Transaction approved by the boards of directors of both Motorola and General Dynamics.
- 5Acquisition is subject to normal regulatory approval.
- 6Expected closing date within 60 days of the agreement.