October 31, 2002Paravant Inc • November 6th, 2002 • Electronic computers
Company FiledNovember 6th, 2002 Industry
November 4, 2002Paravant Inc • November 6th, 2002 • Electronic computers
Company FiledNovember 6th, 2002 IndustryAs you know, Paravant Inc. (the "Company") has entered into an Agreement and Plan of Merger, dated as of October 23, 2002 (the "Merger Agreement"), by and among the Company, DRS Technologies, Inc., a Delaware corporation ("DRS"), and Prince Merger Corporation, a Florida corporation and a wholly owned subsidiary of DRS ("Purchaser"), pursuant to which Purchaser has made an offer to purchase (the "Offer"), all of the outstanding shares of the Company's common stock, par value $0.015 per share (the "Common Stock"), for $4.75 per share. After the expiration of the Offer, subject to the satisfaction or waiver of certain conditions, Purchaser will be merged into the Company and all the then-outstanding shares of Common Stock will automatically be converted into the right to receive $4.75 per share in cash. After the merger, the Company will become a wholly owned subsidiary of DRS.