Friday, June 3, 2005

Titan, L3 Communications Merge In $2.65B Deal

San Diego-based defense contractor Titan Corporation (TTN) and L3-Communications said this morning that the two would merge in a $2.65B all-cash deal. L3 Communications will acquire all of Titan and assume all of its debt. Titan is a provider of information and communications systems to the Department of Defense, and has approximately 12,000 employees and revenues of $2.4B. The deal is subject to approval by Titan shareholders, government regulatory reviews, and other closing conditions.