Textron, which was highlighted yesterday as one of the most anti-Obama companies around, may be about to be taken over by a consortium of Middle Eastern investors, based primarily in the UAE and Kuwait. Shares are up about 50% on the news.
Overall, I don't really care who buys this firm, which has made about as many bad bets as the auto industry. But it is interesting news, and we'll see if there's any backlash, since people (not fairly) fear foreign takeover of companies, even though it is likely that less jobs would be cut here with the takeover than without the takeover.
Just for the record, Textron makes Cessna planes, serves the auto industry, makes some DOD products, and has a really bad financial arm.
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