Armor Holdings: Shareholders vote to adopt merger agreement with BAE Systems

By Lisa Kerner

Charlotte, N.C., July 25 - Armor Holdings, Inc. stockholders voted in favor of the company's acquisition by BAE Systems, Inc. and its wholly owned subsidiary Jaguar Acquisitions Sub Inc. About 71% of the total number of shares of Armor's common stock outstanding and entitled to vote approved the merger during a special meeting held on Tuesday, a company news release stated.

The proposed merger, valued at $4.1 billion, was announced on May 7 and is expected to close on or about July 31, according to a company news release. Under the merger agreement, Armor's stockholders will receive $88 per share of common stock in cash, without interest.

Armor, based in Jacksonville, Fla., manufactures branded products for the military, law enforcement and personnel safety markets.

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

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