November 30, 1996 in Nation/World

Boeing-Rockwell Exchange Ratio Set

From Staff And Wire Reports
 

Rockwell International Corp. shareholders will receive .042 of a share of Boeing common stock in Boeing Co.’s acquisition of Rockwell’s aerospace and defense business, Rockwell said Friday.

The exchange ratio is based on the average daily closing price of Boeing stock during the 20-day trading period that ended Nov. 27, and the number of Rockwell shares outstanding on Nov. 25. Approximately 9.2 million shares of Boeing common stock will be issued in the transaction.

Just before the transaction, Rockwell will move its automation, avionics and communications, semiconductor systems and automotive businesses to a new company, which will keep the name Rockwell International. Shares for the new company will be distributed to Rockwell shareholders on a one-for-one basis.


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