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Investor's Business Daily

| February 01, 2001 | COPYRIGHT 2001 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Alliant buys Thiokol for $685 mil

to expand rocket-engine business

Alliant Techsystems sees the cash purchase of Alcoa's rocket propulsion systemsunit boosting earnings by 5-10 cents in fiscal 2002, which begins April 1. Alliant makes aerospace and defense products. Alcoa, the No. 1 aluminum firm, acquired Thiokol when it bought Cordant Technologies in May 2000. Thiokol has annual sales of $570 million. The firms expect the acquisition to close

by the end of the second quarter. Alliant's shares rose 1.01 to a new high of 69.30. Alcoa's climbed 1.50 to 36.74.

DaimlerChrysler downplays flap

as losses mount at Chrysler unit

Chrysler's new CEO Dieter Zetsche played down the prospects of a hostile bid, but said the company was on guard and needed a radical overhaul. The firm confirmed that it was working on a defense strategy. It has hired Deutsche Bank- its biggest shareholder - and J.P. Morgan Chase. They'll help build a strategy to revive the group's share price and pre-empt any hostile takeover bid.

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