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9 months ago
BRIEF-L-3 Communications agrees to acquire assets of Implant Sciences
October 10, 2016 / 12:31 PM / 9 months ago

BRIEF-L-3 Communications agrees to acquire assets of Implant Sciences

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Oct 10 (Reuters) - L-3 Communications Holdings Inc

* L-3 agrees to acquire assets of Implant Sciences

* L-3 Communications Holdings Inc - deal for $117.5 million in cash, plus assumption of specified liabilities

* L-3 Communications Holdings Inc- pursuant to terms of APA, L-3 will acquire explosives trace detection business of implant

* L-3 Communications Holdings Inc - L-3 will acquire explosives trace detection (ETD) business of implant

* Says co intends to finance asset purchase using its existing cash on hand

* L-3 Communications - following acquisition, assets will be integrated into L-3's security, detection systems division within electronic systems business segment

* L-3 Communications-will be entitled to a breakup fee and expense reimbursement if it does not prevail as successful bidder at any subsequent auction Source text for Eikon: Further company coverage:

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