Tag Archives: L-3 Communications Spinoff

Engility Spinoff A Go!

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The board of directors at L-3 Communications Holdings (LLL) recently approved the spinoff of the majority of its government services business, Engility. The spin is expected to take place on July 17th and shareholders as of July 16th will receive one share of Engility for every 6 shares of LLL owned. Given that L-3 currently has ~97.5m shares… Read More »

L-3 Communications Gives In

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In what appears to be another ‘win’ for activist investors, defense contractor L-3 Communications (LLL) announced that it will spin out its government services business in the first half of 2012. The company faced pressure from Ralph Whitworth’s Relational Investors (who are also involved in the ITT [ITT] situation) to jettison non-core business units in order to improve… Read More »