	boeing ba to uire defense electronics firm boeing co and argosystems inc argi o said they reached an agreement for boeing to uire the sunnyvale calif defense electronics firm for about mln dlrs the boards of both companies have approved the merger which will be accomplished through a tender offer by a boeing subsidiary of dlrs a share cash for all of argosystems shares the companies said under the agreement the boeing subsidiary tbc holdings corp will begin the tender offer promptly if at least pct of the shares are not tendered the offer will be prorated to pct the companies said argosystems has granted boeing an option to buy shares or pct of the outstanding stock for dlrs a share they said also bill may chairman of argosystems and three other officers have granted boeing an option to buy their shares another pct of the outstanding stock for dlrs a share argosystems makes equipment to monitor and analyze military communications signals electronic warfare equipment to monitor and jam radar signals and signal processing systems for the nine months ended march argosystems reported earnings more than doubled to mln dlrs or cts a share from mln dlrs or cts the year ago period included a mln dlr charge from a writedown of securities sales rose pct to mln dlrs sales are expected to exceed mln dlrs for the fiscal year ending june the companies said in a joint statement the company s backlog is currently more than mln dlrs they said it has about employees about pct of argosystems business comes from international customers argosystems is a clear leader in its field this association will expand our overall activities and significantly enhance our ability to compete in the defense electronics area boeing president frank shrontz said in a statement argosystems will operate as a wholly owned subsidiary of boeing co the merger following the tender offer will be subject to approval by argosystems shareholders the companies said the tender offer and merger are subject to customary conditions and expiration of the hart scott rodino notification waiting period they said reuter 
