Dec. 8, 2015, 8:28 AM
- L-3 Communications (NYSE:LLL) confirms it will sell its government services division, National Security Solutions, to smaller defense contractor CACI International (NYSE:CACI) for $550M in cash.
- The deal will give L-3 a boost, as it looks to move away from low-margin businesses and focus on the communications and defense electronics markets.
- Previously: Reuters: L-3 near $550M deal to sell services unit to CACI (Dec. 04 2015)
Dec. 4, 2015, 4:08 PM
- L-3 Communications (LLL +2.7%) is exclusively talking with CACI International (CACI +1.2%) about selling its government services division, National Security Solutions, and a deal for around $550M is imminent, Reuters reports.
- The agreement could be announced as soon as next week, sources said., though negotiations are confidential.
- L-3 shares have gained 18.5% over the past three months. For its part, CACI closed at $101.64, a bit below Tuesday's 52-week high of $104.09; it's gained 34% over the past three months.
May 28, 2015, 8:59 AM
- L-3 Communications (NYSE:LLL) has acquired CTC Aviation, an aviation training and management solutions company, for £143M ($220M).
- The acquisition, which will now be known as L-3 CTC, is expected to be immediately accretive to L-3's results of operations.
Jan. 22, 2015, 9:31 AM
- L-3 Communications (NYSE:LLL) has acquired Miteq, a manufacturer of specialized RF microwave products and solid-state SATCOM components, for $41M.
- Calling it L-3 Narda-Miteq, the business will be combined with L-3’s Narda Microwave-East business.
- The acquisition is expected to generate approximately $60M in 2015.
Oct. 11, 2012, 10:15 AMWith defense budgets being slashed around the world, the collapse of the BAE's $45B merger with EADS will put the focus on possible deals between tier-two firms such as Rockwell Collins (COL), L-3 Communications (LLL), SAIC (SAI) and Harris (HRS), industry execs and bankers tell Reuters. Much could depend on whether Congress averts the automatic defense cuts that are due from Jan 1. | Oct. 11, 2012, 10:15 AM | 5 Comments
Apr. 11, 2012, 8:11 AM
L-3 Communications (LLL) is acquiring Thales Training & Simulation, a U.K.-based manufacturer of flight simulation equipment, for $132M in cash. L-3 claims the deal, which it expects to close this summer, will add about $150M to its 2012 top line, and will be immediately accretive.| Apr. 11, 2012, 8:11 AM
Dec. 13, 2011, 8:53 AM
Tuesday is proving a busy day for M&A activity. The latest: L-3 Communications (LLL) says it's acquiring Danaher's (DHR) Kollmorgen Electro-Optical (KEO) division, an Italy-based maker of specialized industrial and defense products, for $210M in cash. L-3 claims KEO will generate $160M-$170M in 2012 sales, to go with EBITDA of $26M-$30M.| Dec. 13, 2011, 8:53 AM
Jun. 22, 2011, 10:23 AMActivist investment firm Relational Investors is expected to report that it has become the largest shareholder in L-3 Communications (LLL +4.7%) and is pushing for a breakup of the defense firm, WSJ reports. Relational reportedly wants L-3 to get rid of what it believes are low-margin or slow-growing businesses, including its government services unit. | Jun. 22, 2011, 10:23 AM