Deals
BAE, Europe Defense Companies Plan Purchases on U.S. Budget Cuts
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U.S. budget cuts may spur a spending spree at BAE Systems Plc and other European companies reliant on the world’s biggest defense market as they rush to expand in military technologies best-placed to dodge the contraction.
BAE, Europe’s biggest weapons-maker, Chemring Group Plc and Ultra Electronics Holdings Plc say they’re seeking opportunities in electronic warfare and intelligence gathering, while Meggitt Plc, a maker of wheels, brakes and controls for fighter jets, is chasing energy-industry deals to offset the defense-side slump.