Rolls-Royce Launches $933 M Offer For Vickers
Monday, September 20, 1999
British engineer Rolls-Royce Plc launched a surprise $933 million agreed cash offer for Vickers Plc, in a move aimed at making it the global leader in marine power systems. However, the deal prompted concern from some analysts who felt Rolls-Royce may be paying too much merely to bolster its marine propulsion business.
Given this focus on marine, Vickers' land-based defense business, which includes battle tanks and armored vehicles, is seen as surplus to requirements and Rolls-Royce Chairman Ralph Robins said that the sale of this division was inevitable.