MTC Technologies sets meeting date for BAE Systems merger vote

By Lisa Kerner

Charlotte, N.C., Feb. 6 - MTC Technologies, Inc. will hold a special meeting of shareholders on Feb. 28 at 10 a.m. ET.

Shareholders of record as of Jan. 25 will be asked to approve the agreement and plan of merger with BAE Systems, Inc., a company news release stated.

In December, BAE Systems agreed to acquire MTC for $24 cash per share in a deal valued at some $450 million, including the assumption of net debt of $81 million.

The transaction is slated to close in the first half of 2008.

As previously reported, MTC will become part of BAE Systems' customer solutions operating group, which is based in Arlington, Va., and is a segment of the company's technology solutions and services line of business.

Dayton, Ohio-based MTC provides technical and professional services and equipment integration and modernization for the U.S. military and intelligence agencies.

BAE Systems plc is a London-based defense contractor. BAE Systems Inc. is based in Rockville, Md.

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