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Lexington-based Raytheon Company has announced the completion of its merger with Hughes defence, formerly owned by General Motors, with the formation of Raytheon Systems Company, to be headed up by William H.Swanson as chairman and CEO. Among other management posts, Mr Swanson has been general manager of Raytheon Electronic Systems. Reporting to Swanson will be Ken Dahlberg, president and COO of Raytheon Systems Company. John Weaver, currently president and COO of Hughes Aircraft, will be executive VP of Raytheon Company, and will take over engineering and business development in April 1998 on the retirement of Renzo Caporali, currently Senior VP with those responsibilities.
The value of the transaction is $9.5 billion, with $4.04 billion in debt and $5.46 billion in equity. The merger was approved by the US Department of Justice in October and by shareholders of Raytheon, General Motors and...