L-3 Technologies (LLL) Tops Q1 EPS by 33c; Lifts FY18 EPS Outlook

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L-3 Technologies (LLL) to Sell Its Vertex Aerospace Business for $540 Million

May 1, 2018 7:02 AM EDT

L3 Technologies (NYSE: LLL) announced today that it has entered into a definitive agreement to sell its Vertex Aerospace business to American Industrial Partners for $540 million in cash. As part of the agreement, L3 will also sell its Crestview Aerospace and TCS business units, which are included in the Aerospace Systems business segment.

Were pleased with this divestiture process, said Christopher E. Kubasik, L3s Chief Executive Officer and President. This is a strategic step toward optimizing L3s portfolio. We... More