General Dynamics Finds Buyer For Disputed Assets

Law360, New York (January 4, 2007, 12:00 AM EST) -- Defense contractor General Dynamics Corp. has found a buyer for its 50% stake in American Ordnance LLC, which the Federal Trade Commission forced it to divest to go through with its $275 million purchase of SNC Technologies Inc.

Day & Zimmermann Inc., which already owns the other 50% stake in American Ordnance, said Tuesday that it would acquire the rest of the company.

The transaction is expected to close sometime in the next few months, Day & Zimmermann said. The FTC is accepting public comment on...
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