BAE Closes Purchase of Armor Holdings

BAE Systems has completed its purchase of Armor Holdings after receiving all required shareholder and regulatory approvals.

The $4.5bn merger was first proposed in May this year in a bid to tap into the lucrative armoured vehicle market, which is experiencing strong growth driven by the conflicts in Iraq and Afghanistan.

The acquisition of Armor Holdings strengthens BAE Systems' position as one of the world's leading land systems businesses. Last year Armor Holdings had sales of approximately $2.361bn.

Reported by staff writer