Aerospace Firm Textron To Acquire Defense Contractor

Skadden is representing Textron Inc. in its $1.1 billion acquisition, via a tender offer, of United Industrial Corporation. Both Textron Inc. and United Industrial Corporation are manufacturers and designers of aircraft and equipment used in the aerospace and defense industries. Textron makes Bell helicopters and Cessna aircraft, as well as precision weapons, surveillance systems, complex intelligence and communications systems, aircraft control systems, specialty marine craft and armored vehicles for the defense, homeland security and aerospace markets. United Industrial designs, produces and supports aerospace and defense systems, including unmanned aircraft. The transaction is expected to close by the end of the year.