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LLL

L-3 Communications

$151.60

-0.94 (-0.62%)

, IMSC

Implant Sciences

$0.35

-0.00769 (-2.17%)

08:21
10/10/16
10/10
08:21
10/10/16
08:21

L-3 agrees to acquire certain assets of Implant Sciences for $117.5M

L-3 Communications (LLL) has entered into an asset purchase agreement to acquire certain assets of Implant Sciences Corporation (IMSC) for $117.5M in cash, plus the assumption of specified liabilities. L-3 intends to finance the asset purchase using its existing cash on hand. Implant has recently entered into Chapter 11 Bankruptcy protection, and the consummation of the APA will be subject to approval of the U.S. Bankruptcy Court. Following a successful acquisition, the assets will be integrated into L-3's Security & Detection Systems division within its Electronic Systems business segment. Pursuant to the terms of the APA, L-3 will acquire the explosives trace detection business of Implant. The company's ETD products have received approvals and certifications from several international regulatory agencies, including the TSA in the U.S., ECAC in Europe and the Ministry of Public Safety in China. In September 2016, the TSA placed a delivery order for 1,353 of the QS-B220 systems and related supplies. Based in Wilmington, Massachusetts, Implant filed for bankruptcy protection pursuant to Chapter 11 of the U.S. Bankruptcy Code on October 10, 2016. L-3 will be, subject to U.S. Bankruptcy Court approval, entitled to a breakup fee and expense reimbursement if it does not prevail as the successful bidder at any subsequent auction in accordance with the terms of the APA. L-3's role as purchaser and the sale itself are subject to approval by the U.S. Bankruptcy Court.

LLL

L-3 Communications

$151.60

-0.94 (-0.62%)

IMSC

Implant Sciences

$0.35

-0.00769 (-2.17%)

LLL L-3 Communications
$151.60

-0.94 (-0.62%)

08/25/16
08/25/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. Netflix (NFLX) upgraded to Outperform from Market Perform at William Blair with analysts led by Ralph Schackart citing its belief the long term risk/reward is favorable. 2. L-3 Communications (LLL) upgraded to Overweight from Neutral at JPMorgan with analyst Seth Seifman saying L-3's turnaround is already underway but sees further free-cash-flow growth and further valuation upside. 3. Guess (GES) upgraded to Buy from Neutral with analyst Jeff Van Sinderen saying he believes the "end game" for Guess will be a sale of the company. 4. Transocean (RIG) upgraded to Neutral from Sell at Citi with analyst Scott Gruber saying the company has exceeded cost reductions while the backlog remains superior to peers. 5. Primoris (PRIM) upgraded to Buy from Neutral at Seaport Global with analyst Ryan Cassil saying there are fairly low expectations assumed in management's guidance of 90c-$1.10 and the possibility of project starts ahead of management's internal forecast. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
09/06/16
SBSH
09/06/16
INITIATION
Target $174
SBSH
Buy
L-3 Communications initiated with a Buy at Citi
Citi analyst Jason Gursky started L-3 Communications with a Buy rating and $174 price target. The company's below-average sales growth and margins are set to rebound amid an improving defense environment, Gursky tells investors in a research note.
10/05/16
BARD
10/05/16
INITIATION
Target $184
BARD
Outperform
L-3 Communications initiated with an Outperform at Baird
Baird analyst Peter.Arment initiated L-3 Communications with an Outperform and a $184 price target.
10/06/16
10/06/16
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Boeing (BA) initiated with an Outperform at Baird. 2. AMC Networks (AMCX) initiated with an Outperform at FBN Securities. 3. CVS Health (CVS) initiated with a Buy at UBS. 4. L-3 Communications (LLL) initiated with an Outperform at Baird. 5. Raytheon (RTN) initiated with an Outperform at Baird. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
IMSC Implant Sciences
$0.35

-0.00769 (-2.17%)

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Neogen

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EOG Resources

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GMED

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AIXG

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STOR

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