General Dynamics to Acquire Veridian
From Reuters
Defense contractor General Dynamics Corp. agreed to buy Veridian Corp., a maker of chemical, biological and nuclear detection systems, for more than $1.2 billion to strengthen its intelligence and surveillance business.
The deal is the latest in a merger wave sweeping the defense and information technology industry, as companies rush to meet Defense Secretary Donald H. Rumsfeld’s vision of a wired battlefield.
Shares of Arlington, Va.-based Veridian rose $7.13, or 26%, to $34.48 on the New York Stock Exchange. Shares of Falls Church, Va.-based General Dynamics fell $1.42 to $67.19, also on the NYSE.
