Exelis’ (XLS) board of directors recently approved the spinoff of its mission systems business, Vectrus and rumor is that Exelis’s parent company, ITT (ITT), is excited about becoming a grandparent despite the rather creative name choice. The spinoff will take place on September 27th to shareholders as of September 18th and the new company will trade on the NYSE under the ticker… Read More »
Exelis (XLS) is currently in the process of spinning off its government services business, Vectrus. The spin is expected to be completed sometime this summer and Barron’s ran a piece a few weeks ago suggesting that the parent company has a lot of upside at its current levels: The remaining company will be a pure-play defense electronics business, aligned… Read More »
The excitement level was high when Exelis (XLS) announced that it would create a new ‘brand’ for its upcoming military and government services spinoff. To better understand why, lets jump back a few years and remember how the name Exelis came about: ITT Exelis is an energetic name that is derived from the word “excel,” which is rooted… Read More »