The 440 pence per share bid equates to £531 million for all the equity and represents a 57% premium to the closing price on July 17, just before Detica revealed a takeover approach. Since that time Detica's shares have risen sharply on expectations the company would lure more than one suitor, possibly including Bethesda, Md.-based Lockheed Martin Corp. or IT services groups.
A specialist in the growth area of national security and also in commercial risk management and regulatory compliance, Guildford, England-based Detica will be involved in the U.K government's e-borders program, which monitors people entering the country.
BAE Systems forecast that the value of the national security market will double to about £3 billion by 2011 in the U.K. alone. It also intends to "apply Detica's capabilities into the U.S. Homeland Security market," the London-based group said. -
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