Hi-Shear Industries to be acquired.

General Defense Corp., a subsidiary of Greenwich, Conn.-based Clabir Corp., agreed to pay $23.50 a share, or about $140 million, for the North Hills, N.Y.-based military contractor. Hi-Shear’s Torrance subsidiary, Hi-Shear Corp., makes aerospace fastenings. The parent firm’s defense ordnance division makes military rockets and other military ordnance. General Defense also makes military weapons. The deal is subject to clearance by federal antitrust agencies.