BAE Takeover of Armor Holdings Given Go Ahead

19 July 2007 (Last Updated July 19th, 2007 09:58)

The US Department of Justice has approved BAE Systems' takeover of armoured vehicle maker Armor Holdings. BAE proposed the $4.1bn acquisition in May in a bid to tap into the lucrative armoured vehicle market, which is experiencing strong growth driven by the conflicts in Iraq and Afghan

The US Department of Justice has approved BAE Systems' takeover of armoured vehicle maker Armor Holdings.

BAE proposed the $4.1bn acquisition in May in a bid to tap into the lucrative armoured vehicle market, which is experiencing strong growth driven by the conflicts in Iraq and Afghanistan.

Armor Holdings' shareholders will vote on the deal at the end of the month.