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Finmeccanica and DRS Technologies Announce Early Termination of Hart-Scott- Rodino Waiting Period

Written by thomas · Filed Under Aeronautics News 

August 29, 2008

thomas

ROME and PARSIPPANY, N.J., Aug. 28 /PRNewswire-FirstCall/ —
Finmeccanica, S.p.A. (FNC.MI) and DRS Technologies, Inc. (NYSE: DRS)
announced today that the Department of Justice and Federal Trade Commission
have granted early termination of the waiting period, effective August 27,
2008, under the Hart- Scott-Rodino Antitrust Improvements Act of 1976, as
amended (HSR), in connection with DRS’s proposed merger with Finmeccanica.

As announced on May 12, 2008, Finmeccanica and DRS entered into a
definitive merger agreement in which Finmeccanica will acquire DRS for
US$81 per share. Completion of HSR review was one of the conditions for the
consummation of the merger. The merger continues to be subject to, among
other conditions, certain other regulatory approvals, as well as the
approval of DRS’s stockholders. DRS has scheduled a special meeting of
stockholders for September 25, 2008 to vote on the merger.

About Finmeccanica

Headquartered in Italy, Finmeccanica is a leading global
high-technology company with core competencies in the design and
manufacture of helicopters, civil and military aircraft, aero structures,
satellites, space infrastructure, missiles, defense electronics and
security. The company employs more than 60,000 people worldwide, including
2,100 employees at 32 sites in North America. For more information about
Finmeccanica visit http://www.finmeccanica.com.

About DRS

DRS, headquartered in Parsippany, New Jersey, U.S.A., is a leading
supplier of integrated products, services and support to military forces,
government agencies and prime contractors worldwide. The company employs
approximately 10,500 people. For more information about DRS, please visit
the company’s web site at http://www.drs.com.

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