General Dynamics to buy GM unit for $1.1 bln-WSJ

Newswire

NEW YORK, Dec 19 (Reuters) - General Dynamics Corp is expected to acquire General Motors Corp's defense unit for $1.1 billion, making the arms contractor the leading U.S. armored vehicle maker at a time when the world-wide market is expanding, the Wall Street Journal reported on Thursday. Citing people familiar with the transaction, the newspaper said the agreement could be announced as early as Thursday and is expected to close during the first quarter of 2003. The units being acquired ...

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