United Defense Industries. Wired says United Defense was itself the product of mid-1990s merger mania. The company was formed in 1994 by the merger of defense units of two companies, FMC Corp and Harsco Corp. In 1997, the Carlyle Group, a private investment fund that specializes in aerospace and defense buyouts, purchased the firm.
Company went public in Dec'01 (not too long after Sept11 terrorist attack) (half its proceeds buying out investors). Opened at $19, closed that day just slightly higher.
Stock started to climb in late January'02.
On Feb1'02 announced it had been awarded $1.8 contract to develop the Crusader artillery system. Red Herring said Frank Carlucci (Carlyle Group) and Donald Rumsfeld are good friends and former wrestling partners from their undergraduate days at Princeton University.
Price (UDI quote ) hit high of just under $28 in mid-Feb.
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