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Budget cutbacks spurring defense mergers
Budget cutbacks spurring defense mergers

With protracted federal budget cuts at the Pentagon and NASA on the horizon, aerospace companies across the nation are choosing to combine forces as they vie for fewer dollars and brace for the tough times ahead. In the first quarter of this year, there were 56 merger and acquisition deals announced, according to Irvine aerospace investment bank Janes Capital Partners. This was a 14% increase from last year. "We are on the cusp of a major merger wave in aerospace and defense," said Stephen Perry, managing director at Janes. "As budgets decline, it's very logical for these firms to go out looking for ways to combine businesses." On Tuesday, two Washington,...

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