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Simula to be Acquired by Armor Holdings

Jul 24 2003

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Simula, a leading supplier of body armour to the US Military and manufacturer of other products for the military have signed a letter of intent to be acquired by Armor Holdings for US$110.5 million.

Under the agreement, Armor Holdings will have an exclusive negotiation period ending on August 29. During this time all necessary activities resulting in the merger of the two companies will take place.

While the final details of the deal are yet to be confirmed, Armor Holdings will acquire all outstanding stock of Simula. Simula shareholders are expected to receive cash and common stock in Armor Holdings, with at least 20% of the payment to be in cash.

For more information on body armour, click here.

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