They're Lobbing Missiles Over A Submarine Maker

Talk about an eager buyer. Barely 24 hours after offering $798 million in stock for nuclear submarine maker VSEL PLC, senior officials of British Aerospace PLC (BAe) flew from London to Barrow, VSEL's headquarters on England's northwest coast, to meet their counterparts and discuss the future. Since VSEL's board had accepted the offer, the mood was buoyant. No wonder: It had taken nearly a year of on-again, off-again negotiations to clinch the deal.

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