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M&A Deal Summary

Textron Acquires Cessna

On March 2, 1992, Textron acquired aerospace company Cessna from General Dynamics for 600M USD

Acquisition Highlights
  • This is Textron’s 2nd transaction in the Aerospace sector.
  • This is Textron’s 3rd largest (disclosed) transaction.
  • This is Textron’s 3rd transaction in the United States.
  • This is Textron’s 1st transaction in Kansas.

M&A Deal Summary
Date 1992-03-02
Target Cessna
Sector Aerospace
Buyer(s) Textron
Sellers(s) General Dynamics
Deal Type Divestiture
Deal Value 600M USD

Target

Cessna

Wichita, Kansas, United States
Cessna Caravan taking off from Fort Lauderdale airport in Florida.
Cessna Caravan taking off from Fort Lauderdale airport in Florida.
Cessna is an American general aviation aircraft manufacturer. Cessna is known for small, piston-powered aircraft as well as small business jets. Cessna was originally established in 1927 and is based in Wichita, Kansas.

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Buyer(S) 1

Buyer

Textron

Providence, Rhode Island, United States
Category Company
Founded 1923
Sector Diversified
Employees34,000
Revenue 13.7B USD (2024)
DESCRIPTION
Textron's corporate headquarters in downtown Providence, Rhode Island.
Textron's corporate headquarters in downtown Providence, Rhode Island.

Textron is a multi-industry company that leverages a global network of aircraft, defense, industrial and finance businesses to provide customers with products and services around the world. Textron was founded in 1923 and is based in Providence, Rhode Island.

DEAL STATS #
Overall 3 of 48
Sector (Aerospace) 2 of 7
Type (Divestiture) 1 of 8
State (Kansas) 1 of 2
Country (United States) 3 of 30
Year (1992) 1 of 1
Size (of disclosed) 3 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1986-01-29 Bostitch

East Greenwich, Connecticut, United States

Bostitch is a manufacturer of power tools.

Sell $193M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1996-01-01 Camelin Decolletage Industries

Besancon, France

Camelin produces components for car braking and interior safety systems, as well as for domestic appliances.

Buy -

Seller(S) 1

SELLER

General Dynamics

Reston, Virginia, United States
Category Company
Founded 1899
Sector Defense
Employees117,000
Revenue 47.7B USD (2024)
DESCRIPTION
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.
General Dynamics' Ordnance and Tactical Systems unit located in St. Petersburg, Florida.

General Dynamics is an aerospace and defense company. It manufacturers business jets as well as provides combat systems to the US military. General Dynamics was founded in 1952 and is based in Reston, Virginia.

DEAL STATS #
Overall 1 of 7
Sector (Aerospace) 1 of 3
Type (Divestiture) 1 of 6
State (Kansas) 1 of 1
Country (United States) 1 of 7
Year (1992) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1985-09-14 Cessna

Wichita, Kansas, United States

Cessna is an American general aviation aircraft manufacturer. Cessna is known for small, piston-powered aircraft as well as small business jets. Cessna was originally established in 1927 and is based in Wichita, Kansas.

Buy $700M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-17 Gulfstream Aerospace

Savannah, Georgia, United States

Gulfstream Aerospace designs, develops, and manufactures business-jet aircraft. Gulfstream was formed in 1958 and is based in Savannah, Georgia.

Buy $5.3B
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