18th Nov 1985..... Cessna is purchased by General Dynamics.( It was sold again to Textron Inc in 1992 ).
GD paid $660 million in 1985 for control of Cessna and the McAuley propellor subsidiary.
When it came to 1992, Dassault was in the bidding against Textron as they really wanted the Citation line as the entry-level supplement to the Falcons. But Textron outbid them at $600 million...
Inflation Calculator says that $660 million in 1985 dollars would be $860 million in 1992, so it was a
very poor outcome for GD; lost a quarter-billion dollars on that gamble:
Other odd mid-1980s purchases which didn't work out:
Chrysler buying Gulfstream
Lear Siegler buying Piper
The only one that survived was Raytheon's purchase of Beech.