Deutsche Bank reports more than 5% ownership of United Industrial

By Lisa Kerner

Charlotte, N.C., Nov. 5 - United Industrial Corp. shareholders led by Deutsche Bank AG reported ownership of more than 5% of the company's shares, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons own 515,283 shares, or 5.03%, of United Industrial.

United Industrial entered into an agreement and plan of merger on Oct. 8 with Textron Inc. Deutsche Bank acquired shares held in an arbitrage account subsequent to the announcement of the merger, the filing stated.

It was previously reported that the merger was valued at roughly $1.1 billion. United Industrial's tender offer for Textron's shares is expected to begin on Oct. 16, and the acquisition is slated to close during the fourth quarter.

United Industrial is based in Hunt Valley, Md., and provides aerospace and defense systems through subsidiary AAI Corp.

Providence, R.I.-based Textron has business in the aircraft, industrial and finance industries.

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