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. Last Updated: 07/27/2016

Boeing Buys Rockwell

NEW YORK ()--- Boeing Co. said Thursday it is buying the bulk of Rockwell International Corp.'s aerospace and defense holdings in a $3 billion deal that transforms the world's biggest maker of commercial jets. Boeing will acquire the company for $860 million in stock and also will assume almost $2.2 billion in Rockwell debt.

Rockwell's aerospace and defense units had saluw of $3n2 billion last year and have about 21,000 employees. Boeing's defense and aerospace group had 1995 sales of $5.6 billion and about 30,000 employees.