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Article: The Allied Defense Group Announces Agreement to Sell Global Microwave Systems, Inc. in a $26 Million Transaction.
- Article from:
- Defense & Aerospace Week
- Article date:
- September 3, 2008
CopyrightCOPYRIGHT 2008 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Allied Defense Group, Inc. (AMEX:ADG) announces it has entered into a definitive agreement to sell substantially all of the assets of its California subsidiary, Global Microwave Systems, Inc. to a wholly owned subsidiary of Cobham plc, an international company engaged in the development, delivery and support of advanced aerospace and defense systems for land, sea and air platforms.
The purchase price is $26 million, subject to a final working capital adjustment. The closing of the transaction is subject to the satisfaction of customary closing conditions, including obtaining various consents and regulatory approvals, which are expected in approximately 30 ...