L3 Communications Corp has completed its $525m acquisition of the 10 communications technology businesses sold-off by Lockheed Martin Corp (CI 3,039). L3 Communications, a new company formed for the deal, is 50%-owned by Lehman Brothers, Capital Partners and III LP while the management owned a 15 per cent shareholding. Lockheed retains a 35% stake. The […]
L3 Communications Corp has completed its $525m acquisition of the 10 communications technology businesses sold-off by Lockheed Martin Corp (CI 3,039). L3 Communications, a new company formed for the deal, is 50%-owned by Lehman Brothers, Capital Partners and III LP while the management owned a 15 per cent shareholding. Lockheed retains a 35% stake. The new company, which targets the aerospace and defense communications markets, has about 5,000 employees, and the 10 units had combined 1996 revenues of $675m.
