MTC Technologies being acquired by BAE Systems

BAE Systems is the Europe’s largest defense company and they are now acquiring MTC Technologies.

MTC Technologies manufactures gear for government agencies and the deal is worth around $450 million.

BAE Systems would be paying for this deal in cash and they are also assuming the debts of the company.

This is the fourth such acquisition for BAE Systems this year and they expect this latest one to be completed by the first half of next year.

They would require approval from the shareholders and the regulatory bodies for this acquisition.

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