Safran/L-1 Identity Solutions
On September 20, 2010, L-1 Identity Solutions (NYSE: ID) announced that it had entered an agreement to be acquired by Safran for $12.00 per share, or a total consideration of $1.1 billion.
Under the terms of the agreement, Safran has agreed to acquire L-1 Identity Solutions, Inc. following the sale of L-1’s intelligence services businesses to BAE Systems, Inc.
The transaction is not subject to financing and is expected to close in the first quarter of 2011, subject to the timing of applicable regulatory processes.
Goldman, Sachs & Co. and Stone Key Partners LLC are financial advisors to L-1 in connection with the transactions. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to L-1 in connection with the transactions.
Under the terms of the agreement, Safran has agreed to acquire L-1 Identity Solutions, Inc. following the sale of L-1’s intelligence services businesses to BAE Systems, Inc.
The transaction is not subject to financing and is expected to close in the first quarter of 2011, subject to the timing of applicable regulatory processes.
Goldman, Sachs & Co. and Stone Key Partners LLC are financial advisors to L-1 in connection with the transactions. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel to L-1 in connection with the transactions.
