UPDATE 1-General Dynamics to buy GM combat vehicle unit

Newswire

(Recasts, adds details, background, stock prices) FALLS CHURCH, Va., Dec 19 (Reuters) - Defense contractor General Dynamics Corp. said on Thursday it signed a deal to buy General Motors Corp.'s defense unit for $1.1 billion, giving it the top spot in the growing market for combat vehicles. General Dynamics, also a leading maker of combat ships and information systems, said it expects the all cash deal to close in the first quarter of 2003. GM's defense unit expects $950 million in ...

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