DOD IG: Raytheon Needs Better Tracking Of Pension Funds From Acquisitions

By John Liang / September 23, 2002 at 5:00 AM
The Pentagon risks either overpaying or not receiving proper credit for certain contributions it made to $6.9 billion worth of pension funds now controlled by Raytheon as a result of three major acquisitions the company made in the mid-1990s, the Defense Department's inspector general concludes in a new report. From 1995 through 1997, Raytheon acquired E-Systems for $2.2 billion, bought the assets of Texas Instruments' Defense Systems and Electronics business unit for $2.95 billion and acquired the defense operations of...

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