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BEA Systems Gets Armor Holdings, Cheap

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Armor Holdings (AH) which makes tactical wheeled vehicles, security products and vehicle armor systems serving military, law enforcement, and homeland security markets is being bought by BEA Systems for $88 a share, or $4.1 billion. BEA makes defense systems as well. The deal is not much of a premium to the $82 where Armor trades now.

But, up until early May Armor was trading at about $70. The reason for the recent increase seems to be that the company’s business prospects are improving. According to The Associated Press:  Prudential raised its price target on Armor due to "expectations of a new armored vehicle contract" "A joint military program led by the U.S. Marine Corps is seeking to double the size of its new armored vehicle program", the AP added.

Looks like Armor is going way too cheap.

Douglas A. McIntyre

Contact [email protected] for any questions or corrections.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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