| Deal Description | General Dynamics Corporation added the net proceeds from this transaction to its working capital. The main purposes contemplated for such proceeds were the expansion and improvement of manufacturing facilities, the acquisition of other properties, and the further development and expansion of the activities of the corporation and its subsidiaries, with particular emphasis on the fields of electronics, nuclear energy, aircraft and guided missile production, and the manufacture of both conventional and atomic powered submarines. Pending the application of such proceeds to the said purposes, the proceeds were expected to be used to the extent necessary for the payment of outstanding bank loans, which were incurred for working capital purposes. |
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