Force Protection, Inc. (FRPT) Tops Q3 EPS by 4c, Announces Conference Today to Discuss Acquisition
Force Protection, Inc. (NASDAQ: FRPT) reported Q3 EPS of $0.07, $0.04 better than the analyst estimate of $0.03. Revenue for the quarter came in at $143.6 million versus the consensus estimate of $142.77 million.
Force Protection, Inc. announced that it has scheduled a conference call for today at 11:30 a.m. Eastern to discuss today's announcement that the Company and General Dynamics (NYSE: GD) have entered a definitive merger agreement under which General Dynamics will acquire the Company at a price of $5.52 per share of common stock, or approximately $360 million. Separately, the Company today also released financial results for its third quarter ended September 30, 2011. A question and answer session with Force Protection's management will follow the commentary portion of the conference call.
Under the terms of the merger agreement, a wholly-owned subsidiary of General Dynamics will commence a tender offer for all of the outstanding shares of common stock of the Company. The Company's board of directors has resolved to recommend that the Company's stockholders tender their shares into the tender offer in accordance with the terms of the merger agreement. The consummation of the tender offer and merger is subject to certain conditions set forth in the merger agreement, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
Force Protection, Inc. announced that it has scheduled a conference call for today at 11:30 a.m. Eastern to discuss today's announcement that the Company and General Dynamics (NYSE: GD) have entered a definitive merger agreement under which General Dynamics will acquire the Company at a price of $5.52 per share of common stock, or approximately $360 million. Separately, the Company today also released financial results for its third quarter ended September 30, 2011. A question and answer session with Force Protection's management will follow the commentary portion of the conference call.
Under the terms of the merger agreement, a wholly-owned subsidiary of General Dynamics will commence a tender offer for all of the outstanding shares of common stock of the Company. The Company's board of directors has resolved to recommend that the Company's stockholders tender their shares into the tender offer in accordance with the terms of the merger agreement. The consummation of the tender offer and merger is subject to certain conditions set forth in the merger agreement, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.