General Dynamics and Cessna Aircraft Co. Merger Postponed

January 8, 1986January 29, 2020 admin flight test Flight Test News, FTN, January 1986, SFTE

This article first appeared in the January 1986 Flight Test News.

ST. LOUIS, Mo., Jan. 8, 1986 — In view of the December 3, 1985 suspension against General Dynamics making it ineligible to receive awards of further government contracts, General Dynamics and The Cessna Aircraft Company announced today that they have agreed to postpone their merger until some unspecified date in the future. As previously announced, General Dynamics owns over 95% of the outstanding shares of Cessna common stock as a result of its $30 per share cash tender offer which expired on January 3, 1986 and Cessna shares it owned prior to the commencement of its tender offer. General Dynamics intends to purchase Cessna shares on the open market or in privately negotiated transactions.

This article first appeared in the January 1986 Flight Test News.