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Class actions stymie United Industrial deal.
Byline: Ron Orol in Washington
Asbestos litigation is hampering United Industrial Corp.'s efforts to sell the company.
In its quarterly report, the New York-based maker of unmanned vehicles for defense and training systems said Friday, Nov. 15, that it has failed to find a buyer for the whole of United Industrial, although it said it has received interest for parts of the company.
"The primary reason expressed by certain potential buyers for their unwillingness to acquire the entire company relates to the risk associated with asbestos-related litigation," United Industrial disclosed.
The company's stock plunged on the news, falling nearly …
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