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Article: BOEING LIFTS OFF WITH DEAL FOR ROCKWELL ON COURSE TO BE NO. 1 IN THE SPACE BUSINESS.(News)
- Article from:
- Seattle Post-Intelligencer
- Article date:
- August 2, 1996
- Author:
CopyrightCOPYRIGHT 1996 Seattle Post-Intelligencer. All rights reserved. Reproduced with the permission of the Dialog Corporation by Gale Group. 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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Boeing's $3.2 billion purchase of Rockwell International's defense and space business launches the Seattle aerospace giant on a course as the biggest player in the commercial space business.
Company executives and analysts agreed that the deal, announced yesterday, should be a good fit for Boeing, which gets programs ranging from the space shuttle and the B-1B bomber to satellites, rocket engines and airborne lasers.
Analysts said Boeing appeared to pay a bargain price, trading $860 million in Boeing stock and assuming about $2.3 billion in Rockwell debt and pension liabilities. In return, Seal Beach, Calif.-based Rockwell becomes debt free and can ...