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Sunday, April 08, 2007

Three-way fight for U.K submarines

The race to take control of Britain’s submarine industry has become a three-way contest between BAE Systems, Babcock International and Carlyle, the American private-equity group.

The three have made it through to the second round of bidding for Devonport Management Limited.

DML, which is owned by former Halliburton company KBR, runs a key maintenance and support base for the British nuclear-submarine fleet.

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