L3Harris is nearing a deal to sell a 60% stake in a portfolio of space and propulsion businesses to AE Industrial Partners, Mike Stone as Reuters reports, citing three people familiar with the matter. This comes as the company works to sharpen its focus on national security. The deal could be announced as soon as Monday. L3Harris will retain a 40% stake in the portfolio of businesses and AE Industrial will pay over $500M for its 60% stake, two sources added.
Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LHX:
- Trump Trade: 350 drugs to see price raises despite President’s pressure
- General Dynamics, Northrop Grumman and others awarded on $25.36B DMEA contract
- Kratos issues LOI to L3Harris for 40 Zeus 1, 20 Zeus 2 hypersonic motors
- L3Harris (LHX) Secures $843 Million U.S. Deal for Missile-Tracking Satellites
- L3Harris awarded $843M contract by SDA for tracking layer satellites