Leonardo DRS to acquire RADA Electronic in all-stock merger; RADA holders to get 19.5% of combined entity

Leonardo DRS, Inc.

All-stock merger: each RADA ordinary share exchanges for 1 share of Leonardo DRS common; pro forma ownership: Leonardo SpA 80.5%, RADA shareholders 19.5%.
RADA termination fee of $40M if it accepts superior proposal; DRS termination fee of $40M if Specified Transaction not completed by deadline.
Transaction expected to close by June 30, 2023, subject to RADA shareholder approval, regulatory approvals, and other conditions.
Combined company targets low teen Adjusted EBITDA CAGR from 2021 base of $305M; deal expected accretive to RADA EPS in year one.
RADA's tactical radars to enhance DRS's air defense and force protection offerings; combined company to trade on NASDAQ and TASE under 'DRS'.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.