The Pentagon’s proposed $495.6 billion budget for the coming fiscal year would provide $154 billion for weapons purchases and research, $25 billion less than projected a year ago, according to the Defense Department.
An effort by the official partners’ committee of Dewey & LeBoeuf LLP to compel appointment of an examiner was “for an improper purpose as a litigation tactic,” a bankruptcy judge said Oct. 9 in approving a $71.5 million settlement with former partners. Two days later, the firm filed papers asking the judge to disband the official partners’ committee.
Oshkosh Corp., the U.S. military’s biggest supplier of blast-resistant trucks, rose the most in almost three years after reporting third-quarter profit that beat analysts’ estimates and raising its full-year forecast.
Carl Icahn, the billionaire activist investor, offered to buy Oshkosh Corp. for about $3 billion, saying management of the military vehicles supplier has failed to deliver on pledges to improve profitability.