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.
ADDITIONAL INFORMATION ABOUT THE MERGER AND WHERE TO FIND IT: DRS has
filed with the U.S. Securities and Exchange Commission a definitive proxy
statement and other relevant documents in connection with the proposed
transaction. INVESTORS AND SECURITY HOLDERS OF DRS ARE URGED TO READ THE PROXY
STATEMENT AND SUCH OTHER RELEVANT MATERIALS BECAUSE THEY CONTAIN IMPORTANT
INFORMATION ABOUT FINMECCANICA, DRS AND THE PROPOSED TRANSACTION. A definitive
proxy statement was sent to security holders of DRS seeking their approval of
the transaction. Investors and security holders may obtain a free copy of
these materials and other documents filed with the U.S. Securities and
Exchange Commission at the U.S.
