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General Dynamics Clears Regulatory Hurdle in Force Protection Purchase; Company Directors Still to Appove

The U.S. Justice Department has terminated the remaining portion of a waiting period required by antitrust law in General Dynamics‘ (NYSE: GD) pending acquisition of Force Protection Inc. (NASDAQ: FRPT).

General Dynamics said the cash deal of $5.25 per share, or approximately $360 million, still needs to be approved by each company’s board of directors.

General Dynamics expects to close the deal before the end of calendar year 2011. It also expects the deal to increase its earnings in 2012.

South Carolina-based Force Protection employs around 1, 100 workers and manufactures blast and ballistic-protected products.

Previous acquisition coverage:

November 7: General Dynamics to Acquire Tank Manufacturer Force Protection for $360M

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