ROME (AP) -- Italian aerospace and defense company Finmeccanica will buy U.S. military contractor DRS Technologies Inc. for $4 billion, the companies announced Tuesday, in deal that will give it a prominent position in the U.S. defense market.Rome-based Finmeccanica will pay $81 per share in cash, representing a 32%premium over DRS's 30-day average stock price, the statement said. Finmeccanica will also cover $1.2 billion in net debt.
Finmeccanica boosts its international role supplying defense and security systems, becoming a "key player," and DRS will get new leverage in securing large-scale projects globally.
The weak dollar opened the path for European companies to enter the U.S. market on numerous fronts.
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