British defence company BAE Systems is buying up US company Armor Holdings for $4.5 bn to help BAE Systems achieve its aim of becoming one of the Pentagon's main suppliers. The deal moves BAE Systems from 7th to 5th biggest supplier of the US army. BAE Systems is paying $88 per share and $4.14 bn in cash plus $388 mil in paying off debt. To fund the deal, BAE Systems has already raised £750 mil (€1.1 bn) through an increase in shares.