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L-3 May Sell Some Assets, But Won't Seek Breakup -Reuters

DOW JONES NEWSWIRES Defense contractor L-3 Communications Holdings Inc. (LLL) will likely divest some cheaper assets in services but has no plans for a breakup or broad portfolio overhaul, Reuters reported Wednesday, citing people familiar with the situation. New York-based L-3, which is being pushed by activist shareholder Relational Investors LLC to break itself up, is considering spinning off or selling a part of its government-services division that it views as nonstrategic, the sources said. Those assets could together attract a sale price of about $1 billion -- about a quarter of the division's $4 billion sales in 2010, the people said. Relational, whose 6% stake makes it the biggest single shareholder in L-3, wants the company to sell or spin off its government services as well as aircraft modernization and maintenance operations, Reuters cited a person close to the investor as saying previously. Representatives for L-3 declined to comment to Reuters. Relational wasn't immediately available to comment. Full story at http://www.reuters.com/article/2011/07/13/l-3-activist-idUSN1E76C0RF20110713 -Dow Jones Newswires; 212-416-2900

Stock News for L3 Comm (LLL)
DateTimeHeadline
12/04/201418:05:11Northrop Grumman Board Authorizes $3 Billion Share-Buyback Plan
10/28/201421:50:11Government-Services Contractor Engility to Buy TASC
09/26/201409:50:47U.S. Hot Stocks: Hot Stocks to Watch
11/15/201307:04:51Bridgewater Associates LP 3Q 13F: Largest Eliminations
03/25/201319:00:08Former L-3 Staffer Given 6 Years Jail
02/06/201306:44:25U.S. HOT STOCK FUTURES: HOT STOCKS TO WATCH
11/05/201215:26:25Healthcare, Financials, Defense Stocks in Play as Voters Head...
11/01/201208:40:11L-3 Communications Net Falls 18%
04/21/201200:20:37MARKET SNAPSHOT: U.S. Stock Gains Hinge On Apple, Blue-chip Results
01/13/201209:51:15Applications Given Early Antitrust Clearance
12/13/201109:41:44L-3 Communications Agrees To Acquire Danaher Unit For $210 Million
07/28/201107:53:32L-3 To Spin Off Government-Services Unit; 2Q Profit Up 6.6%
07/13/201113:24:24L-3 May Sell Some Assets, But Won't Seek Breakup -Reuters
06/27/201110:48:23Supreme Court Won't Consider Iraq Lawsuit Against Contractors
04/21/201108:03:10L-3 Communications 1Q Profit Off 7.7%, But Raises 2011 EPS View
02/08/201114:59:14L-3 Lifts Quarterly Dividend 13%; 7th Straight Annual Increase
01/27/201107:22:14L-3 Communications 4Q Profit Up 18%, Boosts Year EPS View
12/28/201007:33:11WSJ: FAA Seeks Fixes To Midair-Collision Warning Devices On 9,000...
10/28/201008:40:18L-3 3Q Net Down 4.4% Following Gain As Sales Dip; 2011 View Weak
10/04/201011:05:05High Court Asks For Government Brief In Abu Ghraib Case

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