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Chemring To Acquire The Allied Defense Group For $59 Million

DDN

Friday, January 22nd, 2010

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Britain's Chemring Group recently said it has agreed to acquire Virginia-based The Allied Defense Group [ADG] for $59 million in cash, expanding its ammunition products and related services. T The deal is expected to close within three months, subject to regulatory approvals by the U.S. government and ADG shareholder approvals. Chemring will pay $7.25 per share, a 54 percent premium to ADG's stock price, at the close of business last Friday. Chemring will be getting ADG's Belgium-based Mecar SA, a…

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