Economic news

Leonardo’s DRS to land on Nasdaq with RADA takeover

2022.06.21 11:00

Leonardo's DRS to land on Nasdaq with RADA takeover
FILE PHOTO: Leonardo logo and stock graph seen displayed in this illustration taken, May 3, 2022. REUTERS/Dado Ruvic/Illustration

MILAN (Reuters) -Leonardo’s U.S. electronics business DRS has agreed an all-stock takeover of Israel’s RADA Electronic Industries, the Italian defence group said on Tuesday.

Under the agreement, DRS will acquire 100% of the Israeli maker of tactical radar equipment, with current RADA shareholders then taking a 19.5% stake in the combined business.

At the closing of the transaction, expected in the fourth quarter of this year, DRS will be listed on the Nasdaq and Tel Aviv stock exchanges, Leonardo added without providing financial details of the deal.

Leonardo postponed an initial public offering (IPO) of a minority stake in DRS last year, citing uncertainty over U.S. defence spending and investor concern about rising interest rates.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 81,996.97 2.38%
ethereum
Ethereum (ETH) $ 1,904.74 1.66%
tether
Tether (USDT) $ 0.999953 0.02%
xrp
XRP (XRP) $ 2.26 4.01%
bnb
BNB (BNB) $ 630.61 1.17%
solana
Solana (SOL) $ 123.99 3.93%
usd-coin
USDC (USDC) $ 1.00 0.01%
cardano
Cardano (ADA) $ 0.693531 3.65%
dogecoin
Dogecoin (DOGE) $ 0.166035 4.34%
tron
TRON (TRX) $ 0.232646 5.91%
staked-ether
Lido Staked Ether (STETH) $ 1,903.13 1.60%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 81,838.93 2.38%
leo-token
LEO Token (LEO) $ 9.75 0.10%
the-open-network
Toncoin (TON) $ 3.60 3.82%
chainlink
Chainlink (LINK) $ 13.63 3.48%
usds
USDS (USDS) $ 0.999998 0.01%
stellar
Stellar (XLM) $ 0.267967 2.23%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,275.14 2.12%
hedera-hashgraph
Hedera (HBAR) $ 0.184894 3.70%
pi-network
Pi Network (PI) $ 1.12 16.54%
avalanche-2
Avalanche (AVAX) $ 18.58 1.39%
shiba-inu
Shiba Inu (SHIB) $ 0.000012 4.25%
sui
Sui (SUI) $ 2.26 3.35%
mantra-dao
MANTRA (OM) $ 6.93 0.99%
polkadot
Polkadot (DOT) $ 4.39 0.38%
litecoin
Litecoin (LTC) $ 87.96 5.35%
bitcoin-cash
Bitcoin Cash (BCH) $ 335.01 0.90%
bitget-token
Bitget Token (BGB) $ 4.62 3.86%
ethena-usde
Ethena USDe (USDE) $ 0.999585 0.05%
weth
WETH (WETH) $ 1,903.13 1.71%
binance-bridged-usdt-bnb-smart-chain
Binance Bridged USDT (BNB Smart Chain) (BSC-USD) $ 1.00 0.06%
hyperliquid
Hyperliquid (HYPE) $ 13.37 0.02%
whitebit
WhiteBIT Coin (WBT) $ 28.13 1.32%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,020.65 1.57%
monero
Monero (XMR) $ 207.27 1.69%
uniswap
Uniswap (UNI) $ 6.29 0.66%
susds
sUSDS (SUSDS) $ 1.04 0.15%
dai
Dai (DAI) $ 0.999775 0.03%
aptos
Aptos (APT) $ 5.29 1.69%
okb
OKB (OKB) $ 50.66 0.41%
near
NEAR Protocol (NEAR) $ 2.53 4.48%
pepe
Pepe (PEPE) $ 0.000007 5.91%
internet-computer
Internet Computer (ICP) $ 5.72 4.94%
mantle
Mantle (MNT) $ 0.804197 1.81%
gatechain-token
Gate (GT) $ 21.78 0.46%
ethereum-classic
Ethereum Classic (ETC) $ 17.48 3.20%
tokenize-xchange
Tokenize Xchange (TKX) $ 32.93 1.93%
ondo-finance
Ondo (ONDO) $ 0.81858 5.28%
aave
Aave (AAVE) $ 169.45 3.77%
coinbase-wrapped-btc
Coinbase Wrapped BTC (CBBTC) $ 81,994.97 2.40%